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As we move through the European trading session on Wednesday, there is residual optimism in the market that continues to boost risk sentiment. European indices are having another strong day, although the FTSE 100 is bucking this trend and is posting a small loss.
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In-Depth Analysis
In September, inflation rebounded slightly in the United States, the Eurozone and Japan, while remaining stable in the United Kingdom. In the United States, the inflationary impact of tariffs has so far been contained.
The Fed eased its monetary policy, with two expected announcements: the end of the central bank's balance sheet reduction process from 1st December; and a second straight cut (-25 bp) in the Fed Funds target, without unanimity, bringing it to +3.75% - +4.0%, due to downside risks in the labour market.
Cryptocurrencies
Sui (SUI) is rising in tandem with the cryptocurrency market, trading above $2.00 at the time of writing on Wednesday. The bullish wave behind Sui's 3.5% increase followed a correction that erased gains from $2.20 to $1.98 the previous day.
Aster extends recovery on Wednesday as buying pressure resurfaces. Trading volume exceeds $3 trillion for the first time ever, but declining protocol fees and Open Interest suggest lower demand ahead.
Bitcoin rises in tandem with other crypto majors and is trading above $104,000 at the time of writing on Wednesday. Altcoins, including Ethereum and Ripple, are also edging higher, hovering above $3,400 and $2.40, respectively.
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Stocks
![Elliott Wave analysis of Nasdaq (NQ) forecasts new all time high, targeting at least 26793 [Video]](/_next/image?url=https%3A%2F%2Feditorial.fxsstatic.com%2Fimages%2Fi%2FEquity-Index_Nasdaq-2.jpg&w=1536&q=75)
The bullish cycle in the Nasdaq (NQ) that commenced from the April 2025 low remains underway, unfolding as an impulsive Elliott Wave structure. Within this broader advance, wave (3) of the eight-month rally concluded at 26,399.
Weekly Forecast
The EUR/USD pair ends the week with modest gains at around 1.1580 after falling to 1.1468, its lowest in over three months. The US Dollar (USD) maintained its positive tone throughout the first half of the week, but changed course on Thursday, although with modest downward strength.
The Pound Sterling (GBP) extended its downtrend and reached seven-month lows near 1.3000 against the US Dollar (USD), before GBP/USD buyers quickly jumped in and recovered some ground.
Bitcoin (BTC) price continues to trade in red, below $101,000 at the time of writing on Friday, having dropped more than 8% so far this week. The decline comes amid mounting selling pressure from long-term holders, who continue to offload their positions.
Despite a promising start to the week, the upside impulse in the US Dollar (USD) fizzled out in the second half of the week, leaving it with modest losses when looking at the weekly chart.
