Wall Street kicks off October with broad rally, boosted by economic cheer

NEW YORK (Reuters) – Wall Street stocks surged to a higher close on Friday, entering the final quarter of 2021 in a buying mood boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.

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FXEN NEWS

Gold: New target set at USD5,600/oz – OCBC 28 January 2026

OCBC Bank has revised its Gold forecasts higher to USD5,600/oz by end-2026, up from USD4,800/oz, reflecting recent price increases and persistent structural demand.

CAD: Bank of Canada maintains on-hold bias – BBH 28 January 2026

The Bank of Canada (BOC) is expected to keep its policy rate unchanged at 2.25% for the second consecutive meeting.

BoC set to keep rates unchanged, stressing a data-dependent approach 28 January 2026

The Bank of Canada (BoC) is widely expected to leave its benchmark rate unchanged at 2.25% at Wednesday’s meeting, extending the pause it signalled back in December.

Could Trump name next Fed Chair on Wednesday, overshadowing FOMC meeting? 28 January 2026

Speculation is intensifying over US President Donald Trump’s nomination of the next Chair of the Federal Reserve (Fed), an announcement that could come as early as Wednesday, while the Federal Open Market Committee (FOMC) is also holding its monetary policy meeting.

BoC to maintain overnight rate at 2.25% with a cautious tone – TD Securities 28 January 2026

TD Securities' Global Strategy Team provides insights on the upcoming Bank of Canada Rate Decision scheduled for January. The expectation is for the overnight rate to remain at 2.25%, with a cautious tone in the policy statement.

EUR/USD steadies at lower levels with markets positioning for the Fed 28 January 2026

The Euro is testing support at the 1.1960 area, trading at 1.1980 ahead of Wednesday's US session opening, after pulling back from over four-year highs at 1.2082 reached on Tuesday.

USD: Diversification concerns remain – Rabobank 28 January 2026

RaboResearch discusses the current state of the USD, highlighting potential negative factors impacting the currency. Concerns over Fed independence and US fiscal policies are noted, alongside signs of increased hedging among investors.

Gold Price Forecast: XAU/USD eases below $5,300 with the bullish trend intact 28 January 2026

Gold (XAU/USD) is trading higher for the eighth consecutive day on Wednesday. The precious metal, however, has pulled back from all-time highs at $5,311 in the European session, returning to the mid-$5,200s as investors take positions ahead of the US Federal Reserve’s monetary policy decision.

Gold hits fresh record highs near $5,300 as markets await Fed interest rate decision 28 January 2026

Gold (XAU/USD) pushes deeper into uncharted territory on Wednesday, extending its gains for eight consecutive days as safe-haven demand and a softer US Dollar (USD) fuel the ongoing rally.

United States MBA Mortgage Applications dipped from previous 14.1% to -8.5% in January 23 28 January 2026

United States MBA Mortgage Applications dipped from previous 14.1% to -8.5% in January 23

Federal Reserve set to hold interest rates amid solid growth, persistent inflation 28 January 2026

The United States (US) Federal Reserve (Fed) announces its interest rate decision on Wednesday. Markets widely expect the US central bank to keep the policy rate unchanged in the range of 3.5%-3.75%.

NZD/USD retreats from six-month high as US Dollar rebounds ahead of Fed decision 28 January 2026

NZD/USD halts its bullish momentum and trades around 0.6030 on Wednesday at the time of writing, down 0.20% on the day.

USD/JPY remains depressed below 153.00 with the Fed’s decision on tap 28 January 2026

The Yen holds gains despite the moderate US Dollar recovery on Wednesday. The USD/JPY remains capped below the 153.00 level, trading at 152.45 at the time of writing, with three-week lows at 152.16 at a short distance ahead of the US Federal Reserve’s (Fed) monetary policy decision.

Pound Sterling Price News and Forecast: GBP/USD retreats to 1.3780 area with markets bracing 28 January 2026

The Pound is trimming gains against the US Dollar on Wednesday, trading a few pips above 1.3780 at the time of writing, down from its highest levels in more than 4 years, at 1.3868.

CAD: Interest rate stability expected – Commerzbank 28 January 2026

Commerzbank's report, written by Michael Pfister, indicates that the Bank of Canada is unlikely to change interest rates in the near term. The Canadian economy is slowly recovering, and inflation pressures are rising.

USD: President Trump gives thumbs up – BBH 28 January 2026

The Dollar has recently faced significant downward pressure, with President Trump expressing indifference to its decline, stating, "The dollar’s doing great." Brown Brothers Harriman (BBH) analysts note that the USD has undershot levels implied by rate differentials, with various structural drags co

Ireland Retail Sales (MoM) declined to -0.4% in December from previous 0.5% 28 January 2026

Ireland Retail Sales (MoM) declined to -0.4% in December from previous 0.5%

Ireland Retail Sales (YoY): -0.1% (December) vs previous 2.5% 28 January 2026

Ireland Retail Sales (YoY): -0.1% (December) vs previous 2.5%

India Cumulative Industrial Output up to 3.9% in December from previous 3.3% 28 January 2026

India Cumulative Industrial Output up to 3.9% in December from previous 3.3%

India Manufacturing Output up to 8.1% in December from previous 8% 28 January 2026

India Manufacturing Output up to 8.1% in December from previous 8%

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Wall Street kicks off October with broad rally, boosted by economic cheer

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