Markets are Mixed - 24.9.2025

The live dollar index moved up 0.1% to 97.83 in Asian trading, extending its winning streak to a third day. The move came after U.S. producer prices unexpectedly fell by 0.1% in August, which strengthened expectations that the Fed could cut rates soon.
The EUR/USD pair inched up to 1.1699 ahead of the European Central Bank meeting. No policy changes are expected, but traders think the ECB may take a more cautious, dovish tone as Europe deals with weak growth and rising political risks. The euro is also stabilizing after two days of losses, triggered in part by tensions when Poland shot down suspected Russian drones with NATO support.
The GBP/USD pair stayed mostly flat, with traders holding back until the release of key U.S. inflation (CPI) data later in the day.
The USD/JPY pair was steady at 147.43 after data showed Japan’s wholesale prices rose 2.7% in August, a sign that inflation pressures remain in the world’s fourth-largest economy.
The AUD/USD slipped 0.1% to 0.6609, easing from recent highs as commodities like oil and gold gave back some of their gains.

Wall Street had a mixed session overnight. The Nasdaq Composite inched up 0.03% to close at a new record of 21,886.06 after hitting an intraday high earlier in the day. TheDow Jones Index,however, dropped 0.5% (220 points), pulled lower by a sharp 3.2% fall in Apple shares after its latest product launch disappointed investors.
The S&P 500 also slipped as money shifted out of traditional blue-chip names and into higher-risk growth stocks.
In Asia, trading was more cautious. TheNikkei slowed after Japan’s wholesale inflation data showed stronger price pressures, while the Hang Seng stayed weak as Chinese economic and political concerns continued to weigh. TheAustralian Stock Index edged lower too, moving in line with softer commodity prices.

Oil prices held steady in Asian trading after sharp gains earlier this week, driven by geopolitical tensions in both Russia and the Middle East. But traders stayed cautious, as U.S. inventory data pointed to a potential oversupply.
Brent futures for November were flat at $67.49 a barrel, whileWTI crude slipped slightly to $64.34. The market had been supported by news that Poland shot down Russian drones and Israel launched strikes on Hamas targets in Doha. Still, the upside was capped after U.S. stockpiles showed a bigger-than-expected build and demand signals weakened.
Adding some support, OPEC+ announced a smaller production hike for October, pointing to tighter supply. On the other hand, new Russian energy deals with China and India raised doubts about longer-term supply-demand balance.

Crypto prices slipped 0.1% to $3,637.28/oz but remain near record highs. Analysts at Lombard Odier now see prices climbing to $3,900/oz over the next 12 months, pointing to ongoing risks from inflation, slower U.S. growth, and rising government debt.
Since April, speculative positions in gold have eased, while inflows into Asian gold ETFs have picked up again. With supply still tight and demand staying strong, many analysts believe gold could remain supported through the rest of the year.