Morning market wrap: dollar, euro, bitcoin and Canadian and UK data

what happened

According to ru.tradingview.com, citing a WSJ report, Grayscale analyst Zach Pandl says Solana averages about 1,400 transactions per second, and its Alpenglow upgrade is due next week. Solana fell 1.3% to $104.17. Bitcoin rose 0.1% to $82,106 and ether gained 0.4% to $2,460 as the dollar index weakened.

U.S. industrial production rose 0.7% in September, but Citi analysts say manufacturing output has moved mostly sideways since spring. The euro rose 0.3% to $1.1256 after touching a 17-month low of $1.1112, according to LSEG data. Standard Chartered and Monex link pressure on the currency to French government bond spreads and budget tensions.

In Canada, the housing market is softening as mortgage rates rise, while Royal Bank of Canada says high oil prices lifted purchasing power unevenly. The UK budget on October 28 could move sterling depending on the fiscal headroom.

why it matters

For markets, the key signal is that the euro and pound depend on French and UK fiscal policy, while crypto increasingly trades on macro factors rather than tech stocks. ECB and Bank of England decisions in coming weeks could amplify these currency moves.

market impact

Euro and pound: French and UK fiscal risks pressure the currencies; crypto: trades more on macro moves

tags

instruments