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NAGA Weekly Recap September 8 - 12, 2025

This week had all the market drama we’ve come to expect—records, pullbacks, and a dash of geopolitics. U.S. jobs data came in softer, and that was enough to keep the “rate cuts are coming” story alive. Stocks loved it, pushing to fresh highs, while bond yields cooled off, giving valuations some breathing space. But it wasn’t all smooth sailing. Oil prices bounced higher as tensions flared in the Middle East, a quick reminder that risk sentiment can turn on a dime. Still, the big takeaway? Markets are holding up. Tech’s doing the heavy lifting, optimism’s in the air, but traders aren’t going all-in just yet. With key data and central bank chatter dropping next week, it feels like everyone’s leaning bullish—just with one hand on the exit door.

Markets September Breaks the Script September usually drags on equities, but this year’s been different. AI flows, strong earnings, and rising bets on Fed cuts are keeping markets afloat. Still, geopolitics and fiscal jitters are capping the hype. The real test? Whether this momentum can outlast September’s notorious volatility. Stocks Stocks Hold Steady at the Top U.S. equities inched higher, pushing major indices to fresh records as traders leaned into Fed rate-cut hopes. But with retail sales and other key data due next week, nobody’s switching off the radar—volatility could come fast. Across the pond, Europe lagged, pressured by rising energy costs and growth worries. All eyes now turn to the ECB for the next cue, with sentiment still tightly tethered to every data point. Commodities Commodities Take Center Stage Oil bounced back midweek as Gulf tensions and OPEC+ uncertainty pushed supply risks back into the spotlight. Earlier losses vanished as traders repriced geopolitical risk into crude. Gold, meanwhile, cooled slightly—safe-haven demand eased on better risk sentiment, but prices are still sitting near highs with macro uncertainty keeping a bid under the metal. For now, commodities remain the swing factor, balancing supply shocks against shifting inflation expectations. Forex Dollar Finds Its Footing The dollar steadied after a choppy run, helped by tighter yield spreads and calmer Treasury moves. The euro and yen slipped, while EM currencies saw mixed action as capital flows shifted. FX stayed range-bound for now, but with U.S. data and central bank updates on deck, traders are bracing for volatility and positioning carefully for the next policy twist.

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Publication date:

2025-09-15 10:27:30 (GMT)

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