1. Canadian Retail Sales Slip Again
Advance estimates show Canadian retail sales dropped 0.7% in September, after rising 1% in August and falling 0.7% in July.
With the U.S. government shutdown still ongoing, there’s not much fresh data coming out south of the border.
However, we’ll get U.S. existing home sales data later today — one to watch closely.
2. Oil Market in Panic-Buy Mode
The oil market is seeing panic buying amid new sanctions on Russian oil and the U.S. lifting restrictions on Ukraine’s use of long-range missiles.
A key technical level to watch is $62 — a former support that has now turned into resistance.
Oil faces an uphill battle with several resistance levels ahead, unless geopolitical tensions escalate further.
Remember: when support breaks, it often becomes resistance.
3. Markets Still Trapped in October 10th Range
We still haven’t seen the indices break out of the October 10th trading range.
The longer markets stay “inside” that range, the bigger the breakout will be when it finally happens.
With earnings season in full swing and big names reporting, know what you own and why. Big companies can move the indices, and sectors wildly.
4. Trump Administration Eyes Quantum Computing Stakes
Reports say the Trump administration is in talks to take stakes in quantum computing companies.
This follows similar moves into Intel and critical minerals producers.
It looks like part of a bigger strategy to prepare the U.S. for the next tech race, with greater government control over strategic industries.
Don’t be surprised if more tech and infrastructure firms get added to that list soon. This is becoming a trend.
5. Dollar Strength, Regional Banks, and Key Support Levels
The U.S. dollar remains strong, keeping pressure on commodities and emerging markets.
Regional banks deserve attention — financial stress could re-emerge if yields climb again.
Meanwhile, the 200-day moving average continues to act as a solid floor for Bitcoin.
Gold’s $4,000 level held beautifully — a textbook technical support setup. For silver, support is around $47.80.