October 17th, New York Update: Global Markets and Geopolitical Briefing

The Financial Source Podcast

Show Notes — Current Market & News Briefing (October 17, 2025)

FX

The dollar trades mixed as investors seek safety following renewed U.S. regional bank stress. The yen and Swiss franc are stronger, with USD/JPY dipping below 150. The euro holds firm near 1.17 after reduced French political risk, while the pound steadies despite soft U.K. data. Risk currencies such as the Aussie and kiwi remain pressured by weak sentiment and soft domestic figures.

Commodities

Oil prices extend losses, with Brent near $60 and WTI below $58 amid risk aversion and cautious signals from Washington and Moscow after a “productive” Trump–Putin call. Gold stays elevated around $4,300 per ounce as investors rotate into safe havens, while base metals, including copper, retreat on global growth concerns.

Trade & Tariffs

Washington reported “very positive” trade talks with Brazil and plans a Trump–Lula meeting. Tensions persist with China after U.S. criticism of Beijing’s sanctions on a South Korean firm. Seoul’s finance minister said the fate of a $350 billion tariff-related payment remains uncertain. Meanwhile, reports suggest the U.S. may soon announce limited tariff relief for the auto industry.

Geopolitics

The White House described the Trump–Putin call as constructive, with staff-level meetings planned next week and a possible summit in Budapest to discuss Ukraine. In the Middle East, Hamas cited logistical delays in returning hostages’ remains, while Israel accused the group of violating the current agreement. Japan confirmed its prime ministerial vote for October 21, as the ruling LDP continues coalition talks with the Innovation Party.