investingLive Americas market news wrap: Schmid highlights the case for dissent

[Forex News]

• Fed's Schmid: Dissented against rate cut because of continued momentum in economy
• Fed's Bostic:Eventually got behind the cut this week.Fed's Hammack says would not have cut
• Fed's Logan (voter in 2026) says she would have preferred to hold rates
• Canada August GDP -0.3% vs 0.0% expected
• Trump told Xi: Chip sales are "between you and Nvidia"
• Warren Buffett will release a letter to shareholders on November 10
• Why the Fed's Schmid is right to cite financial conditions as a reason to pause rate cuts
• Trump set to authorize strikes inside Venezuela on military targets
• November market seasonals: Simply the best

Markets:

• Gold down $27 to $3995
• US 10-year yields flat at 4.09%
• WTI crude oil up 32-cents to $60.89
• S&P 500 up 0.3%
• JPY leads, CHF lags

The stock market had a few tricks on Halloween as strong early gains were snuffed out and stocks fell into negative territory in the US afternoon. But the dip buyers stepped in with bids and that led to a decent finish. Amazon led the way with a nearly 10% gain.

In FX, the US dollar was generally stronger and the euro slid. ECB policymakers continued to highlight a shift to the sidelines so it was mostly just he ebb and flow but it was a decent move down to 1.1530 from 1.1570 in late trading.

Cable also fell to touch the lowest since April at 1.3098 but it firmed from there to 1.3040, which was narrowly above the May and July lows. It's an interesting chart to watch as UK budget angst continues to rise. There was more talk of curbing tax breaks late on Friday.

Gold was slammed midway through the session as a good gain to $4045 reversed in a fall to a low of $3974. Dip buyers were there tough and we're wrapping up the week very close to $4000.

Bitcoin fared better as it tacked on 2% to $109,631.

On net, there wasn't much in the way of market moving news. Oil rose on the Venezuela talk but Trump personally denied it. That's going to be an angle to watch but Venezuela is no longer a major crude producer.

This article was written by Adam Button at investinglive.com.

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