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Marc Chandler – The “Hawkish Cut,” Dollar Strength, U.S.-China Trade Truce

Cory
October 31, 2025

 

In this Daily Editorial, we’re joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of Marc to Market, for insights on the Fed’s “hawkish cut,” dollar momentum, and the latest U.S.-China trade developments.

 

Key Discussion Highlights:

 

  • Fed’s Hawkish Cut: 25bps cut but Powell cools talk of a December move.

  • Dollar Momentum: Strong U.S. data and global weakness keep the USD bid.

  • QT Pause Ahead: Fed to end balance sheet unwind in December.

  • Trade Truce: U.S.-China deal lifts markets but long-term issues remain.

  • Looking to 2026: Next Fed chair could steer policy in a more dovish direction.

Click here to visit Marc’s site – Marc To Market – https://www.marctomarket.com/

 


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Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Discussion
26 Comments
    Oct 31, 2025 31:28 PM

    Silver finished the month higher versus gold (for the 6th month in a row).
    https://schrts.co/tcxvikEc

    Reply
      Oct 31, 2025 31:36 PM

      Silver finished above its weekly KAMA. The last time it finished a week below it was 7 months ago.
      https://schrts.co/ENUHKSzJ

      Reply
      Oct 31, 2025 31:40 PM

      Silver also achieved its best monthly close ever.
      https://schrts.co/GhxHRTqT

      Reply
      Oct 31, 2025 31:59 PM

      It’s worth noting that the low for the month, which happened this week, didn’t even reach the upper monthly Bollinger Band and was further from the upper quarterly BB (and the upper yearly BB is way down at $38.

      Reply
    BDC
    Oct 31, 2025 31:01 PM

    https://www.tradingview.com/x/4mVAlULU/
    DOLLAR : Strength As Noted Above

    Reply
    Oct 31, 2025 31:58 PM

    Thank you, Matthew, for silver charts. Yahoo charts show that ISVLF in March 2011 was trading at $2.66. Big gap down. Waiting for the brighter future. Probably next year.

    Reply
      Oct 31, 2025 31:17 PM

      Alex, I think the correction since July is essentially over but we’ll find out soon.
      https://schrts.co/AqDAjIYX

      Reply
      Oct 31, 2025 31:29 PM

      I bought more this week, btw.
      https://schrts.co/ZMIpCwKp

      Reply
        Oct 31, 2025 31:59 PM

        I wish you at least 5X on that one.

        Reply
          Oct 31, 2025 31:04 PM

          Thanks! Impact will have its day.

          Reply
          22 hours ago

          ISS-EVA downgrades IPT to underweight

          Reply
            21 hours ago

            I have never sold anything because of a downgrade and I certainly won’t be doing so in this case.

      Oct 31, 2025 31:36 PM

      I don’t know if it has been mentioned here but zinc is in severe backwardation and has been for two months. It’s also up 20% since the April low.

      Reply
      19 hours ago

      Share count more than 10 times what it was then and its now less than 1/10 the price. Doing worse than the USD

      Reply
        19 hours ago

        You sure are comfortable lying. The share count has not grown even close to 10 times. As for the price difference, you’re comparing the top of the market to the bottom of the market, Sherlock. It was also under 20 cents in 2008 after going over $4 a few years earlier.
        I think you should short it hard ASAP.

        Reply
          16 hours ago

          Its most important products doing very well, yet it still can’t profit..and you Pumpty Dumpty keep defending it with your ridiculous comments.

          Reply
            15 hours ago

            Hi Terry, I like your posts but I think we should all try to avoid the realm of name calling. DT

            13 hours ago

            You are right DT but I can’t help myself when it comes to people making excuses and defending this terrible company IPT.

            13 hours ago

            Hi Terry, you now got your point across in a much more effective manner. DT

            10 hours ago

            DT, Terry’s an imbecile so I don’t mind his name-calling but he should at least try to be original.
            The funny thing about Impact is that it outperformed most silver miners after the April low but simply reached its top much quicker. Off that April low, SILJ gained 172% by mid October while IPT gained 190% by mid July. The ensuing correction was 6 weeks old when it gained new life due to the large financing. GDX, btw, only gained 111% off the April low but obviously did so with much less risk.

    Oct 31, 2025 31:42 PM

    The guys, who did PP have significant loses with IPT.

    Reply
      Oct 31, 2025 31:07 PM

      That’s pretty common in the months following a financing. Defiance Silver’s PP participants (in June) are in the same boat.

      Reply
        Oct 31, 2025 31:12 PM

        Impact’s are currently much further underwater but Defiance was 28% under its financing the other day and in August and September. IPT is currently at -26%.

        Reply
    12 hours ago

    Impact, if you don’t like it don’t buy it or sell what you have. I had a big position and chose to sell most of it at a loss because ‘I’ think it sucks, end of story… but even dead weight will rise to the surface with enough turbulance.

    https://schrts.co/yYNyWpGt

    Reply

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