Key Takeaways
Today’s Focus: Continue to watch headlines on US-Iran negotiations during the session. On the data front, attention turns to the US September Dallas Fed Manufacturing Index, expected to slow to 7.2 (previous: 11.6). |
Global Market Review 28/09/2026
- US stocks closed higher on Friday, lifted by Microsoft and other AI-related technology shares.
- The Dow gained 0.93%, the S&P 500 rose 0.51%, and the Nasdaq added 0.48%.
- The US dollar retreated as oil prices fell, but it still posted a second consecutive weekly gain.
- Spot gold closed 0.2% higher but was down about 2.1% on the week.
- Oil prices fell amid growing hopes of a US-Iran ceasefire agreement and rumors that the US may ban diesel exports.
Economic Calendar
| Time (GMT+8) | Event | Importance |
|---|---|---|
| 07:50 | BoJ Minutes of July Monetary Policy Meeting | ** |
| 22:30 | US September Dallas Fed Manufacturing Index | ** |
Key Events on September 29 (GMT+8)
| Time (GMT+8) | Event | Importance |
|---|---|---|
| 12:30 | RBA Interest Rate Decision | *** |
| 13:30 | RBA Governor Bullock Press Conference | *** |
| 17:00 | Eurozone September Economic Sentiment Indicator | ** |
| 20:30 | Canada July GDP | ** |
| 22:00 | US August JOLTS Job Openings | *** |
| 22:00 | US September Conference Board Consumer Confidence Index | ** |
Markets Analysis 28/09/2026
- Resistance: 1.1412/1.1435
- Support: 1.1342/1.1312
EUR/USD snapped its losing streak on Friday, briefly breaking above 1.1400, but failed to hold the level. A softer US dollar provided some support, though markets remain cautious amid developments in the Middle East.
Analyst View: The pair is attempting a rebound but remains within its low-level range. Unless it breaks decisively above 1.1400, bullish momentum is unlikely to strengthen.
Bias: Consolidating near lows
- Resistance: 1.3274/1.3334
- Support: 1.3179/1.3119
Despite the Fed’s firmly hawkish stance and geopolitical tensions, GBP/USD halted a four-day losing streak on Friday, supported by a softer US dollar.
Analyst View: The pair has partially rebounded from its lows but remains within a low-level range, so expect the range-bound pattern to persist. A break below 1.3200 would open further downside.
Bias: Consolidating near lows
- Resistance: 158.42/159.29
- Support: 157.53/156.65
After a nearly 1% decline on Friday, USD/JPY attracted some dip-buying in early Monday trade and held its gains after the release of the BoJ minutes.
Analyst View: The pair pulled back on Friday after a run of consecutive gains but has, for now, held above its 10-day moving average and bounced again. It remains on track to reclaim level 158.
Bias: Modest rebound
- Resistance: 95.66/97.79
- Support: 91.44/88.78
After rejecting Iran’s latest proposal to reopen the Strait of Hormuz, Trump said he expects talks with Iran to resume this week. Oil opened higher this morning, though uncertainty may limit the rebound.
Analyst View: Oil failed to extend its gains on Friday and remains capped below its 20-day moving average, though the bottom of last week’s descending channel is providing temporary support. Continue to watch for volatility driven by developments in the talks.
Bias: Range-bound
- Resistance: 4260/4278
- Support: 4196/4172
- Resistance: 64.30/64.92
- Support: 61.68/61.05
Spot gold drew slight support on Friday from progress in US-Iran diplomatic talks and lower oil prices, but it fell sharply early today to its weakest level since August 5 as the standoff over the Strait of Hormuz persists.
Analyst View: Gold is approaching the $4,200 mark. A break below that level would point to the late-July low as a target. For now, focus on the $4,196/$4,172 support zone.
Bias: Under pressure
- Resistance: 52407/52783
- Support: 51194/50811
Amid news of diplomatic efforts to resolve the Iran issue and to lower oil prices, all three major US indices rose on Friday, with the Dow ending a three-day losing streak.
Analyst View: The index has rebounded from its lows and is now testing its 10-day moving average. Whether it can break above will determine whether the rebound extends, with a move above 52,000 in view.
Bias: Modest rebound
- Resistance: 30807/31045
- Support: 30322/30022
Most large-cap technology stocks rose on Friday, with semiconductors performing strongly and lifting Nasdaq. However, OpenAI’s announcement that it is pausing development of some advanced AI models may weigh on tech stocks at the start of this week.
Analyst View: Nasdaq reversed its decline on Friday and is moving back toward its prior high range. The key question is whether the prior high above 30,800 will act as resistance again.
Bias: Watch prior highs
- Resistance: 85949/87395
- Support: 82632/81161
Bitcoin held steady above $84,000 on Sunday, trading around $84,600 as it approached the end of a strong third quarter. It weathered Friday’s large quarterly options expiry with little disruption, aided by firmer spot trading, ongoing institutional buying, and limited profit-taking.
Analyst View: Bitcoin is consolidating in a descending channel below $85,949–$87,395. Support at $82,632–$81,161 (Fibonacci 38.2%–50% and lower channel) keeps the uptrend intact; a break above $85,949 targets $87,395, while a continued decline, with support below $ 82,632- $ 81,161, exposes $79,689 if break the support.
Bias: Consolidating above support
Disclaimer: This analysis is for informational purposes only. Happy trading!
