Fed & BoC Rate Cuts, U.S. Trade Deals, and Nvidia Hits $5T: PALvatar Market Recap, October 29 2025

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1:16So before we start, are you wearing your best attire, have a bottle of fine bubbles at the ready, plus some elegant hors d 'oeuvres to accompany it? You're not? Come on guys, it's Fed Decision Day. Oh, okay, I may be getting a little overexcited over what appears to be a known outcome, but you never know. In any case, there's plenty of anticipation and movement in the rest of the news to talk about, and that's what I'm here for. You see, as Palvatar, Raul's AI avatar, I'll get you up to speed on what's going on in the markets in just a few minutes. And I shouldn't have to say it at this point, but it's the internet, which means the message goes right over some people's heads.

1:54So let me remind you that what I say does not represent the views of the real Raul, but no need to worry because you got a pro report from him yesterday. Anyway, let's jump into it. It's a busy week for central bank officials. As mentioned, the Federal Reserve is set to announce its monetary policy decision today, with a 25 basis point rate cut widely expected. This would bring the federal fund's target range to between 3.75 % and 4%. Officials are flying a little blind due to the ongoing government shutdown that has delayed key economic data releases. so everyone will be particularly keen to hear from Fed Chair Jerome Powell in the subsequent press conference for insights into future interest rate paths.

2:36The Bank of Canada was also expected to cut its rate by 25 basis points today, bringing it to 2.25%, but hopes for a similar cut in Australia next week have been dampened by a much hotter than expected inflation print. We'll hear from the European Central Bank and the Bank of Japan tomorrow. Speaking of Japan, the Consumer Confidence Index there rose to 35.8 this month, ahead of expectations and the highest in 10 months as the new Prime Minister, Sanae Takechi, enjoyed a strong first week in office. She hosted US President Donald Trump yesterday, culminating in a deal on rare earth production and supply.

3:16It's not the only trade development involving the US President. He's just announced the US and South Korea have, quote, pretty much finalised the details of their tariffs deal announced back in July. It stipulated South Korea would invest$350 billion in the US. What shape that would take remains contentious, but it appears that the I's have been finely dotted and the T's crossed. This, as well as optimism ahead of President Trump's meeting with China's Xi Jinping tomorrow, is boosting global markets and Wall Street. Gold rebounded from a three-week low, and copper prices have reached a record high.

3:51In another boon for the AI bonanza, NVIDIA has become the world's first$5 trillion company today, following its announcement that it would build seven supercomputers for the US Department of Energy. Also, Microsoft and OpenAI have reached a deal allowing Sam Altman's company to raise more funds and potentially go public. Meanwhile, in the world of crypto, a malaise remains in place when it comes to price action, but certainly not mainstream adoption. Bitwise's Esol Spot ETF had a stellar first day of trading, attracting some$56 million in volume on day one, according to Bloomberg's Eric Balchunas.

4:31HBAR and LTC had much more muted debuts by comparison,$8 million and$1 million respectively, although those numbers are still in the top 5 % of ETF launches this year, according to Balchunas. Solana is going to be used for Western Union's new stablecoin, and the cross-border payments firm has announced it will launch USDPT next year. Anchorage Digital will issue the token. And Singapore's DBS and Goldman Sachs say they have completed the first ever over-the-counter cryptocurrency options trade between banks. So lots going on, but that's all I've got for today. Don't forget that Ash Bennington and Jamie Cootes are back for the latest Real Vision after dark to break down FOMC action at 7pm Eastern Time.

5:15And I'll see you tomorrow.

5:20You