Financial markets head into the weekend with a cautious tone
Financial markets continue to price in the absence of U.S. macro data and are preparing for next week, when the first corporate earnings for the third quarter of 2025 will be released. Overall, there is a noticeable slowdown in momentum across the main bullish trends of recent weeks.
Our intermarket dashboards highlight an interesting feature this week: the loss of momentum in key trends. Equities, bonds, and gold remain in an upward phase, but their pace has clearly weakened. Even the “risk-on” sentiment that has characterized the market seems slightly less strong. The lack of data on the U.S. economy is weighing on sentiment, while expectations are building for the crucial earnings season set to begin next week.
On the macroeconomic front, today’s calendar includes the University of Michigan Consumer Sentiment Index update and Canadian employment data.
Our forward-looking analyses suggest a slightly more uncertain day for equities, with a few more signs of caution due to the weakening of some technical indicators. The bond market also appears to be in a wait-and-see phase rather than showing clear signs of price recovery. The U.S. Dollar Index continues to perform well, while the picture for commodities remains mixed. Expected volatility is slightly on the rise.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 10 October 2025 - 7:33 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.
