RBNZ’s hawkish hold – UK Budget, BoC and Fed loom

Preview: The RBNZ holds despite hike bets, Asian chips surge, and a UK Budget, BoC and Fed trio lands today.

Gold: Two-way risks after cautious rebound – OCBC

OCBC strategists Sim Moh Siong and Christopher Wong report Gold has rebounded above 4050 after dipping below 4000, helped by easing Oil prices and reduced liquidation pressures despite a firmer US Dollar (USD) and higher US yields. They see focus shifting to the FOMC and core PCE.

Fed expected to hold rates tonight

In the US, the main event of the week is this evening's FOMC rate decision and the following press conference. We expect the Fed to keep policy rates unchanged, in line with consensus, while markets price in a 10% probability of a hike.

Robinhood crypto revenue falls 55% as Galaxy posts $323M profit

Robinhood (HOOD) on Tuesday reported a 55% YoY decline in crypto revenue in Q3, despite seeing a surge in total revenue.

Turkey Trade Balance above forecasts (-5.23B) in September: Actual (-5.16B)

Two dates that decide the EU stablecoin market: 30 October and 12 November

USDC now carries 56% of euro-paired stablecoin trading volume, up from 10% in January 2024, as MiCA rules and two approaching dates reshape the EU market.

The post Two dates that decide the EU stablecoin market: 30 October and 12 November appeared first on Forex Crunch.

Canada Floats 1% Cap on Stablecoin Cash-Outs

Canada's Oct. 24 proposal would force issuers to cash out retail stablecoin holders at par within three business days, with fees capped at 1% and seven days' notice before any change.

The post Canada Floats 1% Cap on Stablecoin Cash-Outs appeared first on Forex Crunch.

SoFi launches SoFi Earn, a tokenised deposit paying 4.40% APY with FDIC protection

SoFi launched SoFi Earn (SOFIE), a tokenised bank deposit paying 4.40% APY with FDIC protection, convertible one-to-one into its SoFiUSD stablecoin.

The post SoFi launches SoFi Earn, a tokenised deposit paying 4.40% APY with FDIC protection appeared first on Forex Crunch.

Bank of Korea plans forex law amendment covering stablecoins as payment means

The Bank of Korea will draft a Foreign Exchange Transactions Act amendment covering stablecoins as payment means by year-end, while Korea's 2027 crypto tax faces a fresh review.

The post Bank of Korea plans forex law amendment covering stablecoins as payment means appeared first on Forex Crunch.

OCC final GENIUS Act rule drops affiliate rewards presumption but keeps stablecoin yield ban

The OCC's final GENIUS Act rule drops the affiliate rewards presumption but keeps the stablecoin yield ban, effective 18 January 2027, with no grandfathering.

The post OCC final GENIUS Act rule drops affiliate rewards presumption but keeps stablecoin yield ban appeared first on Forex Crunch.