Insights 
VT 
Gold Resistance Levels
US stock markets bounced back, reversing losses due to easing trade tensions. Pi Network’s recovery remains uncertain as core team wallets shifted 100 million PI tokens.
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Singapore’s economy is showing surprising strength, with third-quarter GDP growth hitting 2.9% year-over-year, well above the 2% forecast. This performance is a bright spot, especially when we recall the more modest 1.5% to 2.5% full-year growth projections from the Monetary Authority of Singapore earlier in the year. This resilience could signal opportunities for bullish plays on Singapore-related indices using futures contracts.
The US dollar continues to be the dominant force, with the DXY index holding firm above 104, a stark contrast to the levels below 100 we saw during the US-China trade tensions back in 2019. With the Federal Reserve holding rates steady at their last meeting, all eyes are on future guidance for 2026, creating volatility. Traders should consider options strategies like straddles on major currency pairs to play potential swings around the next FOMC announcement.
The Japanese Yen’s weakness is a continuing story, and we see no immediate end to it. The USD/JPY pair is testing levels not seen since the late 1980s, recently pushing past the 165 mark as the Bank of Japan maintains its ultra-loose policy. This persistent one-way move makes selling Yen futures or buying call options on USD/JPY a crowded but potentially still profitable trade.
Market caution remains high, though the focus has shifted from the tariff disputes of the late 2010s to ongoing tech-sector rivalries and supply chain adjustments. This underlying tension is keeping gold prices supported, as seen by its recent consolidation above $2,150 per ounce. We believe volatility derivatives, like options on the VIX index, could be prudent to hedge against any sudden geopolitical flare-ups.
The Australian Dollar is feeling the pressure from both a strong greenback and mixed signals from China’s economy. While official Chinese data suggests a slow but steady recovery, recent drops in iron ore prices below $110 per tonne have weighed on the Aussie. This makes short positions on the AUD/USD pair a tempting proposition, especially if US economic data continues to come in strong.
