The UN assembly continues to make headlines – Market wrap for the North American session - September 26

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Log in to today's North American session Market wrap for September 26

Today saw penultimate session of the United Nations General Assembly, where speeches from France and Israel captured attention, though the tone soured as several delegates walked out during Prime Minister Netanyahu’s address.

On the monetary front, Fed speak stayed in focus, with FED’s Barkin appearing twice, stressing that the key to consumer spending will hinge on whether “people lose their jobs or not,” while Governor Bowman, a dove, doubled down on her call for a more proactive, forward-looking Fed, pushing back against the risk of staying behind the curve.

On the data side, Canada finally surprised to the upside, with GDP rising 0.2% versus 0.1% expected—a rare beat after months of softening prints.

In the U.S., Core PCE landed exactly in line with forecasts (2.9% y/y), not a market mover in itself but another reminder that inflation hasn’t turned into the nightmare some feared despite tariff pressures.

Read More:

• Markets Weekly Outlook – getting ready for September NFP week
• US Dollar Index (DXY): How Sustainable is the Recent Rally? Morningstar Pattern Hints at Further Upside
• Dow Jones rises, but major support is under threat

Equities, meanwhile, continued to ride waves of sector-specific stories, with Lithium Americas (LAC) skyrocketing 250% this week after President Trump announced his administration’s intent to take part in a Nevada project—a move that lit up speculative flows in the battery metals space.

Overall, risk-assets were bid today but Equities saw the most attraction, particularly ahead of the weekly close in some dip-buying activity.

European indices finally see some relief: EuroStoxx finishes up 1.30% and the Dax closes higher by 1%.

In the US, consumer-oriented sectors performed the best which put the Russell 2000 ahead (+0.88%), closely followed by the Dow Jones (0.79%)

Silver also marked some new decade-long records breaching the $46 handle and now stands at around 8% of its April 2011 record highs.

Cross-Assets Daily Performance

Cross-Asset Daily Performance, September 26, 2025 – Source: TradingView

Looking at the Daily asset picture, the action can be resumed with some general mean-reversion to the weekly flows, particularly in the afternoon:

Look at the selling in gold, buying in bonds and Ethereum shining back from an ugly week.

The US Dollar also saw some selling to undo some of its weekly rally.

A picture of today's performance for major currencies

Currency Performance, September 26 – Source: OANDA Labs

The Pound was the real outperfromer of today's session, profiting the most from the US Dollar selloff.

The FX day was still fairly muted when looking at the overall performance, but next week should see much more volatility (Check out our preview for next week's action!)

A look at Economic data releasing in Monday's session

For all market-moving economic releases and events, see the MarketPulse Economic Calendar.

The new week kicks off with a heavy slate of central bank speakers across the Fed, ECB, and BoE.

On the euro side, speeches from Cipollone, Nagel, Schnabel, and Lane are paired with sentiment data (Business Climate, Consumer Confidence, and Economic Sentiment Index).

In the US, Markets will also focus on some huge speeches — with Waller, Hammack, Musalem, Williams, and Bostic all on the docket, with players already looking into the next meeting in about a month from today.

The US calendar also brings Pending Home Sales (Aug) after July’s –0.4% drop, which will be the only mid-to-high tier NA data for that day.

The session will extent for APAC Traders:

From Asia, focus falls on Japan’s Retail Sales (YoY Aug, 1% exp.), while Australia prints Building Permits (Aug, –5.5% exp.).

China rounds out the session with PMIs (NBS and private surveys), a key gauge of manufacturing momentum heading into Q4, and particularly when looking at the state of global activity.

Safe Trades!

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