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Related tickers and likely impact
EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 1.12393 |
| Change that session | +0.16% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- European gas pauses near 2022 highs ; Lagarde warns on energy price pass - through
European wholesale gas futures paused near their highest levels since 2022, with the Dutch TTF benchmark flat at 87.88 euros per MWh and up about 210% year to date, while the UK NBP equivalent held at 217.20 pence per therm and was up roughly 196%. ECB President Christine Lagarde warned that market-driven rises in sovereign borrowing costs are tightening financial conditions and will make it harder for households and industry to absorb higher energy bills from Middle East conflicts. The ECB is widely expected to hike to 2.75% in December, which could weigh on gas-fired industrial activity through the rest of the year. Gas prices remain supported by constrained LNG deliveries through the Strait of Hormuz, following maritime attacks and rerouting around Africa, and by EU gas storage that sits below normal seasonal levels.
- Lagarde Says Tighter Financing Will Weigh on Euro - Area Growth
ECB President Christine Lagarde said tighter financing and rising long-term rates will weigh on euro-area growth more than the bank expected in September, while limiting energy-cost spillovers into other prices. Headline inflation was 3.8% in September and core inflation 2.5%, mostly driven by energy, and wages have not yet shifted substantially. The ECB expects inflation to stay above its 2% goal through the first half of 2027 and projects growth of 0.9% in 2026, 1.4% in 2027 and 1.5% in 2028. The ECB raised rates by 25 basis points in both June and September, with the deposit facility rate at 2.50% since Sept. 16, and Lagarde called for a “measured response” without committing to a rate path. Reuters reported that rising global bond yields have pushed up borrowing costs in the euro area, with France among the hardest-hit markets; the next ECB meeting is Oct. 28-29.
- Lagarde could leave ECB early to become WEF chair , sources say
- WEF weighs Lagarde as next chair , setting up ECB reshuffle
Four people close to the WEF told Reuters that its Board of Trustees could appoint Christine Lagarde as chair as soon as next month, though no final decision has been made. She is seen as having broad board support, and the board could elect her at its meeting on November 2 or set a vote so she can appear as designated chair at Davos in January. An early exit would come almost a year before her ECB term ends in October 2027, giving EU leaders a chance to pick her successor before Emmanuel Macron's term ends in May. Her departure would open a second vacancy on the six-member Executive Board after Isabel Schnabel's resignation, and chief economist Philip Lane is also due to step down in May.
- Lagarde could leave ECB early to become WEF chair , sources say
Four people close to the WEF told Reuters that its Board of Trustees could appoint Christine Lagarde as chair as soon as next month, though no final decision has been made. She is seen as having broad board support, and the board could elect her at its meeting on November 2 or set a vote so she can appear as designated chair at Davos in January. An early exit would come almost a year before her ECB term ends in October 2027, giving EU leaders a chance to pick her successor before Emmanuel Macron's term ends in May. Her departure would open a second vacancy on the six-member Executive Board after Isabel Schnabel's resignation, and chief economist Philip Lane is also due to step down in May.
- WEF weighs Lagarde as next chair , setting up ECB reshuffle
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Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
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