Is it time to be a bearish gold bull?

Wall Street waffles between belief and the fence, Main Street moderates its bullish bets after gold conquers $4,000

Gold and silver may take a break next week, but they still have plenty of momentum

Market wide selloff as gold rallies and silver’s sleeping giant awakes 

Preliminary Consumer Sentiment ticks down to 55 in October as inflation expectations rise

History shows silver market may now be in trouble

Price rebounds for gold, silver - but buckle up

WGC warns gold market overextended after record ETF demand and $4,000 breakout

$4000 gold and $50 silver targets reached, now what?

Gold market analysis for October 10 - key intra-day price entry levels for active traders

One way to position for $100 silver

Silver pushes above $50: What’s next for the precious metal?

Bitcoin October 10 daily chart alert - Bullish pennant pattern in place

Gold isn’t overbought according to ETFs and futures, but other metrics suggest peak price – ByteTree’s Charlie Morris

NEW YORK, Oct 10 (Reuters) - The dollar dropped on Friday after U.S. President Donald Trump threatened to hike tariffs against China, reigniting concerns over how the trade war will impact the U.S. economy.Trump also said he may cancel a planned meeting with Chinese President Xi Jinping and complained on social media about what he called China's plans to hold the global economy hostage after China dramatically expanded its rare earths export controls on Thursday. The comments lifted the euro and the yen against the greenback, while currencies linked to commodities and raw materials, including the Australian dollar, fell."Ultimately, it does create a lot of negativity for the U.S. economy," said Juan Perez, director of trading at Monex USA in Washington. "Is China really going to have to be very retaliatory moving forward in order to get the United States to negotiate better? So it creates a lot of doubt.”The dollar index was last down 0.4% a 98.99. It is still on track for a weekly gain of 1.66%, the largest since September 2024, after the Japanese yen and euro this week were hurt by fiscal concerns in their regions.Traders are also watching for signs on when the U.S. federal government will reopen and release data that will shape Federal Reserve policy.The U.S. Bureau of Labor Statistics said on Friday it would publish September's consumer inflation report on October 24 to assist the Social Security Administration determine the annual cost-of-living adjustment for 2026.It comes after many Fed officials expressed concern at their last meeting over inflation risks."A lot of the easing that central banks either have done, or in the case of the Fed are considering, is being done with a very finely tuned sensitivity to inflation," said Eric Theoret, FX strategist at Scotiabank in Toronto.Traders are pricing in a 97% chance that the Federal Reserve cuts rates by 25 bps at its October meeting, while the odds of an additional cut in December are at 92%, according to the CME Group's FedWatch Tool.YEN WEAKENS ON FISCAL FEARSThe Japanese currency has dropped this week on concerns that the Bank of Japan may not hike interest rates again this year after fiscal dove Sanae Takaichi's surprise victory to lead the ruling party, stoking worries of Japanese authorities needing to step in to support the yen.Japanese Finance Minister Katsunobu Kato said on Friday that the government was concerned about excessive volatility in the foreign exchange market."Today was the first time that the Minister of Finance expressed a verbal intervention, cautioning about excessive moves in the yen," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.Japanese officials last year expressed concern about a move that weakened the currency by 10 yen in a month and Chandler said a similar move today from the September 17 low would indicate concern around the 155.5 yen level.The yen was last up 0.86% against the greenback to 151.73 per dollar. But the dollar is headed for a 2.9% weekly gain on the currency for the week, its biggest advance since September 2024. The yen has weakened from 147.44 yen per dollar last Friday.Takaichi said on Thursday she did not want to trigger excessive declines in the yen. She added that the BOJ is responsible for setting monetary policy but that any decision it makes must align with the government's goal.She looked set to become prime minister in a parliament vote that was expected on October 15. But the date will be likely pushed back after the Liberal Democratic Party's junior coalition partner Komeito pulled its support, breaking their 26-year-old alliance.FRENCH DRAMA DENTS EUROThe euro was up 0.38% on the day at $1.1607 but headed for its biggest weekly decline since July at 1.15% due to political turmoil in France.President Emmanuel Macron welcomed mainstream political leaders to a crunch meeting at the Elysee ahead of a self-imposed late-Friday deadline to name a new prime minister, as the country's central bank chief warned political disorder was sapping growth.The political paralysis has made it challenging to pass a belt-tightening budget and has made investors increasingly worried about France's worsening deficit, on top of evidence of slowing momentum in other key economic engines such as Germany."The data from Germany's not good, and therefore I think that makes the euro a little bit more susceptible to wobbles on the French news," said Rabobank chief strategist Jane Foley.The Canadian dollar jumped against the greenback after data on Friday showed that Canada's economy posted a surprise 60,400 net job gains in September."The market's still leaning towards cuts for Canada, but definitely shaving off a bit of the bias in that direction," said Theoret.The loonie was last up 0.15% versus the greenback at C$1.4 per dollar.In cryptocurrencies, bitcoin fell 2.98% to $117,568.Reporting by Karen Brettell; Additional reporting by Amanda Cooper; Editing by Emelia Sithole-Matarise, Nia Williams and Toby Chopra

Trump's tariff threat on China sinks dollar

TORONTO, Oct 10 (Reuters) - Canada's main stock index posted on Friday its biggest decline since April as increased trade tensions between the United States and China provided a catalyst for profit-taking, and despite stronger-than-expected domestic jobs data.The S&amp;P/TSX composite index (.GSPTSE), ended down 414.09 points, or 1.4%, at 29,850.89, its lowest closing level since September 26. For the week, the index was down 2%.Wall Street posted even sharper declines on Friday after U.S. President Donald Trump unleashed a string of bellicose threats against China in retaliation for Beijing tightening rare earth restrictions."It is a reminder that trade policy uncertainty remains an important driver for markets," said Angelo Kourkafas, senior global investment strategist at Edward Jones."There is a reason for some profit taking after a very strong run in almost a straight line, and as we all know markets rarely move in a straight line."The TSX has advanced 20.7% since the start of the year and posted a record closing high as recently as Monday."We are seeing those higher valuation parts of the market that are leading us to the downside today," Kourkafas said.The high-flying technology sector (.SPTTTK), dropped 4.3%, with shares of e-commerce company Shopify Inc (SHOP.TO), dropping 8%.Energy (.SPTTEN), was down 3.3%, as the price of oil settled 4.2% lower at $58.90 a barrel on growing confidence that the Gaza agreement between Israel and Hamas was taking hold.Canada's economy added 60,400 jobs in September, easily eclipsing forecasts of a 5,000 increase.The data led to investors reducing bets on a Bank of Canada interest rate cut this month. Still, Canada's 10-year yield eased 4.3 basis points to 3.169% as U.S. Treasury yields moved sharply lower.The decline in long-term borrowing costs helped the utilities sector, which added 0.9%. Consumer staples, another defensive sector, was up 1.1%.Aritzia Inc (ATZ.TO), was a standout. The clothing retailer's shares jumped 8.1% after the company's quarterly results beat estimates.Reporting by Fergal Smith in Toronto and Ragini Mathur in Bengaluru; Editing by Vijay Kishore and Alistair Bell

TSX posts biggest decline in six months as global trade tensions rise

NEW YORK, Oct 10 (Reuters) - Investors will look to major banks' quarterly earnings reports in the coming week to help gauge the U.S. economy's health as the federal government shutdown has interrupted the flow of new data.Major U.S. equity indexes slumped on Friday, stalling the market's momentum, after comments from President Donald Trump ratcheted up trade tensions with China. Stocks ended the week on a dour note just before the benchmark S&amp;P 500 (.SPX), is set to mark the third anniversary of the start of its current bull market run on Sunday.Markets had been overbought and due for some volatility, said Matthew Miskin, co-chief investment strategist at Manulife John Hancock Investments."At the end of the day, it's going to come back to the economy," Miskin said. "It's going to come back to corporate profits, and earnings season is right around the corner."With the U.S. stock market's valuation around its highest level in five years and some concerns about over-inflated investor enthusiasm for technology and artificial intelligence, a strong third-quarter earnings season will be critical for equities to maintain their momentum. Despite Friday's sharp decline, the S&amp;P 500 remains up over 11% year-to-date and within roughly 3% of its all-time high."The market just keeps grinding higher," said Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions. "The key underpinning of that is stronger earnings outlooks. ... When you look at the fundamentals, things continue to look good."The record-breaking run for U.S. stock indexes has been accompanied by recent strong gains for other assets, including gold, silver and bitcoin. Several high-profile officials have recently made cautious comments about markets, including Kristalina Georgieva, head of the International Monetary Fund, and JPMorgan CEO Jamie Dimon.JPMorgan (JPM.N), is among the major banks kicking off the earnings season when it reports on Tuesday, along with Goldman Sachs (GS.N), Wells Fargo (WFC.N), and Citigroup (C.N). Bank of America (BAC.N), and Morgan Stanley (MS.N), are due on Wednesday.Recent weak labor market data has raised concerns about growth and prompted the Federal Reserve to restart interest rate cuts. "Banks are a window into the U.S. economy," said Irene Tunkel, chief U.S. equity strategist at BCA Research. "If we see that consumers are still spending, if we see that demand for loans is improving, then I will start to think that perhaps we're not really edging towards contraction."Other companies due to report next week include healthcare company Johnson &amp; Johnson (JNJ.N), and asset manager BlackRock (BLK.N) . S&amp;P 500 companies overall are expected to have increased earnings by 8.8% in the third quarter from a year earlier, according to LSEG IBES."A lot of the bullishness is built around the expected earnings growth," said Chuck Carlson, chief executive officer at Horizon Investment Services. "If we start to see cracks in that, that would not be good for the market in general."Attention also will be on Washington to see if Republican and Democratic lawmakers break an impasse and end a government shutdown that began on October 1. Markets have largely shrugged off the shutdown so far, but investors have warned that risks to the economy will increase the longer it goes on, while it is already hamstringing U.S. travel.Another issue for investors is the interrupted publication of key economic reports by government agencies. The monthly employment report, due on October 3, already has been delayed.Investors have been concerned that the shutdown also could affect next week's data, including releases related to inflation and retail sales.The monthly consumer price index report, which is closely watched for inflation trends, will be published on October 24, the U.S. Bureau of Labor Statistics said on Friday, after the CPI report was originally scheduled for this coming Wednesday.While the CPI report will allow the Social Security Administration to meet deadlines necessary for payment of benefits, the BLS said no other releases will be rescheduled or produced until regular government services resume.If the shutdown drags on through next week, there will be an impact on the October employment report when it is released, "which would make the numbers harder to interpret," Michael Pearce, deputy chief U.S. economist at Oxford Economics, said in a note on Friday."With much of the regular economic data unavailable during the shutdown," Pearce wrote, "the data fog is thickening." Reporting by Lewis Krauskopf; Editing by Alden Bentley, Richard Chang and Aurora Ellis

Wall St Week Ahead Investors seek economic clues from bank earnings amid data fog

Oct 10 (Reuters) - Federal Reserve Governor Christopher Waller on Friday said his interview with Treasury Secretary Scott Bessent to be the next U.S. central bank chief went well and was not at all political.Waller, seen as top contender to succeed Chair Jerome Powell next year, told CNBC the interview was "all serious economics."CNBC reported earlier that Waller was among five remaining candidates under consideration to succeed Powell when the current chair's term expires in May. "I don't know if I am a finalist or not," Waller said. "I thought the interview went well. I didn't get hit by a pitch."Bessent, who is doing the main job of vetting candidates for President Donald Trump to nominate for the job, has had preliminary interviews with as many as 11 candidates.But citing unnamed senior Treasury officials CNBC reported that list had been winnowed down to five: Waller, Fed Vice Chair for Supervision Michelle Bowman, White House National Economic Council Chair Kevin Hassett, former Fed Governor Kevin Warsh and investment firm BlackRock's chief investment officer for fixed income, Rick Rieder.Hassett remains the favorite on betting markets Kalshi and Polymarket, with Waller holding the second spot in contracts on both platforms wagering on who Trump will nominate.The Republican president has demanded the Fed slash interest rates and routinely rails against Powell, whom Trump installed as Fed chair during his first term in the White House but quickly soured on."Was actually a great interview," said Waller, who was appointed to the Fed by Trump in 2020. "I mean, it was a lot of discussion about various aspects of talking about various speeches I've given my points of view, they've kind of wanted to follow up on tales of it. I just thought it was great. I mean, it was really there was nothing political about it. There was nothing. It was all serious economic discussion. So that's why I thought it was brilliant."The question of political interference with the Fed - and its status as an independent body - is a central issue now that Trump has taken the unprecedented step of attempting to fire a sitting Fed governor, opens new tab, Lisa Cook, over allegations of fraudulent applications for a home mortgage.Cook denies the allegation, no charges have yet been filed, and her legal challenge to his attempt to dismiss her will be argued at the Supreme Court in January.Reporting by Dan Burns and Howard Schneider Editing by Mark Potter and Nick Zieminski

Waller says interview for Fed chair went 'great', not political

OTTAWA, Oct 10 (Reuters) - The specific deals that Canada is negotiating with the U.S. in key sectors such as steel, aluminum and autos are likely to persist even if the United States-Canada-Mexico trade deal is reviewed next year, Prime Minister Mark Carney said Friday.Carney told reporters it was unlikely that "one simple trade deal" could resolve all the issues between the two countries. The sectors involved are the ones that Washington deems to be strategic, he said. "We are negotiating specific sectoral deals with them, which would likely persist with a revised USMCA," Carney said.Earlier this week, Carney said he had a "meeting of minds" with U.S. President Donald Trump at the White House on the future of the steel and aluminum sectors, which are currently facing U.S. tariffs.He cited the "huge advantage" that Canada compared to the rest of the world, noting that 85% of goods exported to the U.S. are tariff-free. Still, damaging tariffs remain on imports of Canadian steel, aluminum and autos."Negotiations are tough, but we've come a long way in the last year," Carney said. "We're looking for things that other countries have not received."Reporting by Maria Cheng; Editing by Mark Porter and Nick Zieminski

Canada-US sectoral deals likely to persist even if USMCA is revised, Carney says

WASHINGTON, Oct 10 (Reuters) - The U.S. Bureau of Labor Statistics said on Friday it would publish September's consumer inflation report on October 24 to assist the Social Security Administration determine the annual cost-of-living adjustment for 2026.But the collection, processing and publishing of other official economic data remained suspended until the government resumed regular operations, the BLS said. The government shut down on October 1 after funding lapsed, delaying the release of September's closely watched employment report due last Friday. "This release allows the Social Security Administration to meet statutory deadlines necessary to ensure the accurate and timely payment of benefits," the BLS said in a statement posted on its website.The Consumer Price Index report was originally scheduled for release on October 15. The Social Security Administration uses the CPI for Urban Wage Earners and Clerical Workers data from the third quarter of 2024 to the third quarter of 2025 to determine the annual cost-of-living adjustment for Social Security and Supplemental Security Income benefits for 2026.The programs benefit older Americans who have retired as well as the disabled and certain widows, widowers and children. The COLA announcement - a widely anticipated event each October among the households relying on those payments - is typically made shortly after the September's CPI report is released.In 2025, more than 72.5 million Social Security and SSI beneficiaries received a 2.5% COLA increase.The Senior Citizens League, one of the nation's biggest seniors groups, last month projected a 2.7% COLA raise in 2026, which would lift the average monthly benefit for retirees by $54 to $2,062 from $2,008.Reporting by Lucia Mutikani, additional reporting by Bhargav Acharya and Katharine Jackson; editing by Susan Heavey and Alistair Bell

US to publish September CPI report this month despite government shutdown

Oct 10 (Reuters) - Copper prices are expected to stay in a range of $10,000-$11,000 per metric ton in 2026/2027 due to a market surplus, though the long-term outlook remains positive, Goldman Sachs said in a note on Friday.The bank noted three key factors that could limit copper's upside: First: Chinese buyers could reduce purchases if prices exceed $11,000, as they did in the second quarter of 2024. Second: excess U.S. inventory could quickly rebalance the market if London Metals Exchange spreads tighten. Third: data centre-related demand has likely been overstated. Copper prices fell on Friday after U.S. President Donald Trump said Washington was calculating a massive increase in tariffs on Chinese imports, stoking fears the trade war between the world's two largest economies could escalate.In the nickel market, Goldman noted that Indonesian producer margins need to decline further to limit supply growth and reverse the nagging market surplus. It forecast a 6% decline in nickel prices to $14,500 per metric ton by December 2026.The note added that Goldman expects an aluminium market surplus as Indonesian supply ramps up from mid-2026. The aluminium price was seen at $2,350/t in the fourth quarter of 2026, and was forecast to not return to current levels until 2030.China is expected to shift from being a zinc net importer to a net exporter in 2026 due to rising domestic production, Goldman said."We see rising Chinese domestic production moving the country from deficit into surplus, while the ex-China market moves to deficit. In order to balance the global market, Chinese producers need to be incentivized to export," it noted.In the cobalt market, new export quotas from the Democratic Republic of Congo, which supplies 70% of global cobalt, are likely to create a market deficit in 2026. This will support prices as supply tightens, according to the note.Goldman also expects lithium prices to stay low-for-longer through 2026, averaging $8,900 a metric ton, as persistent oversupply keeps the market in surplus.Reporting by Anjana Anil in Bengaluru; Editing by Nia Williams and David Gregorio

Goldman Sachs expects copper price to remain in $10,000-$11,000/t price range in 2026/2027

NEW YORK, Oct 10 (Reuters) - Stocks fell sharply, with the Nasdaq down more than 2%, while Treasury yields dropped and the U.S. dollar weakened on Friday after President Donald Trump said he was weighing a "massive increase" in tariffs on Chinese goods.Technology-related shares were among the biggest decliners on Wall Street, with an index of semiconductors (.SOX), down 3.7%. U.S.-listed shares of Chinese firms also dropped. E-commerce firm Alibaba Group Holding was down about 7% and JD.com Inc dropped 5.6%.Trump said there was no reason to meet with China's President Xi Jinping in two weeks in South Korea as planned, adding in a Truth Social post that the U.S. is calculating a massive increase in tariffs on Chinese imports.The step could revive a destabilizing tit-for-tat trade war that Washington and Beijing paused amid painstaking diplomacy earlier this year."He's caught the market off guard again and thrown more question marks into a market that is being questioned about a very high degree of enthusiasm and being sort of scrutinized for having too much fluff built into it," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.The Dow Jones Industrial Average (.DJI), fell 461.84 points, or 1.00%, to 45,896.58, the S&amp;P 500 (.SPX), fell 97.67 points, or 1.45%, to 6,637.44 and the Nasdaq Composite (.IXIC), fell 466.51 points, or 2.03%, to 22,558.12."With equities at high valuations, this sell-off, is a sign of jitters. Everything is priced for perfection so the uncertainty increases market jitters," said Gene Goldman, chief investment officer at Cetera investment Management in El Segundo, California. U.S. stock indexes had been hitting record highs this week.MSCI's gauge of stocks across the globe (.MIWD00000PUS), fell 12.63 points, or 1.27%, to 980.84.European shares closed 1.25% lower, erasing weekly gains in the last-minute slide tied to the fresh threats from Trump. The benchmark STOXX 600 (.STOXX), had its worst intraday drop in over a month.Benchmark U.S. yields extended losses from earlier in the session after the Trump comments, with the 10-year Treasury yield hitting its lowest level since mid-September.U.S. sovereign debt had been in a holding pattern in recent days as a U.S. federal government shutdown, which started October 1, halted the production of crucial economic indicators.The yield on benchmark U.S. 10-year notes was last down 7.9 basis points at 4.069% versus 4.148% late on Thursday.The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.41% to 98.98, with the euro up 0.41% at $1.161. Against the Japanese yen , the dollar weakened 0.71% to 151.98.The yen was headed for declines for the week against the dollar following Japan's political changes and rate outlook uncertainty.The Japanese currency has dropped on concerns that the Bank of Japan may not hike interest rates again this year after fiscal dove Sanae Takaichi's surprise victory to lead the ruling party.Japanese Finance Minister Katsunobu Kato said on Friday that the government was concerned about excessive volatility in the foreign exchange market.In France, President Emmanuel Macron mainstream political leaders to a crunch meeting at the Elysee ahead of a self-imposed late-Friday deadline to name a new prime minister.French blue chip stocks (.FCHI), dropped 2% this week as markets were rocked on Monday after Sebastien Lecornu tendered his and his government's resignation just hours after announcing the cabinet line-up.Additional reporting by Marc Jones in London, Sinead Carew in New York and Purvi Agarwal; Editing by Susan Fenton and Nick Zieminski

Stocks, US yields, dollar fall as Trump threatens increase in China tariffs

TORONTO, Oct 10 (Reuters) - The Canadian dollar rose against its U.S. counterpart on Friday as stronger-than-expected domestic jobs data reduced bets on another Bank of Canada interest rate cut this month, but the move was limited as oil prices declined.The loonie was trading 0.2% higher at 1.3995 per U.S. dollar, or 71.45 U.S. cents, rebounding after it touched its weakest intraday level since April 10 at 1.4034. For the week, the currency was on track to decline 0.3%, which would be its third straight weekly loss. Canada's economy added 60,400 jobs in September, almost entirely reversing the losses of the previous month, while the unemployment rate held steady at 7.1%. Economists had forecast a 5,000 jobs gain."Overall, we would definitely characterize this as a solid and encouraging report," said Doug Porter, chief economist at BMO Capital Markets. "We've been leaning to a hold in late October. This somewhat helps that story but it's a close call."Investors see a roughly 50% chance the BoC lowers interest rates at its next policy decision on October 29, down from 72% before the data.The central bank eased its benchmark rate by a quarter of a percentage point last month to 2.50%, its first cut since March, to support the economy which has been buffeted by trade uncertainty.The price of oil , one of Canada's major exports, fell 2.6% to $59.92 a barrel as the market's risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza.Canadian government bond yields rose across much of a flatter curve. The 2-year was up 4.1 basis points at 2.518%, while the gap between it and the U.S. equivalent narrowed by 5.5 basis points to about 107 basis points in favor of the U.S. note.That was the smallest gap since September 17. The bond market was set to close early ahead of the Thanksgiving Day holiday on Monday.Reporting by Fergal Smith; Editing by Andrea Ricci

Canadian dollar rebounds from six-month low on jobs gain

OTTAWA, Oct 10 (Reuters) - Canada's economy posted a surprise 60,400 net job gains in September, almost entirely reversing the losses of the previous month, data showed on Friday, though the unemployment rate remained at a multi-year high.The jobless rate held at 7.1% from August, when the rate hit a nine-year high outside of the pandemic years. Analysts polled by Reuters had forecast job gains of 5,000 and the unemployment rate to edge up to 7.2%, Statistics Canada said. Canada's employment gains this year have averaged about 24,000 jobs per month, almost 10,000 less than seen in the previous two years, as U.S.tariffs have either forced job cuts or dissuaded employers from hiring more.The employment increase in September was completely led by full-time work and it increased in 10 out of 16 industry groups, StatsCan said.However, a few metrics showed the impact of low hiring by companies and increasing slack, or underutilized labor force, in the economy.The unemployment rate among youth or those in the age bracket of 15 to 24 years edged up to 14.7% in September, the highest rate in 15 years. The youths represent around 14% of the total labor force in Canada.Also, the proportion of people working in jobs which are unrelated to their qualification as well as immigrants who were over-qualified for their jobs scaled up, reflecting tough labor market conditions, the statistics agency said. The Bank of Canada has warned that slack was building up in the economy and continued uncertainty and the impact of tariffs could lead to further labor market weakness.Weaker economic data could tilt the Bank of Canada toward a rate cut later this month after it &nbsp;reduced rates by 25 basis point to 2.5% in September."Overall, today's data still suggests that a large degree of slack remains within the labor market, which we think justifies a further interest rate cut from the Bank of Canada," said Andrew Grantham, senior economist at CIBC Capital Markets.The strength in employment seen in September could delay the timing of a cut, particularly if the upcoming data on inflation shows prices firmed up, he added.Money markets are betting that the odds of a 25 basis point rate cut this month are at around 72%.The Canadian dollar firmed after the data and was trading up 0.27% to 1.4018 against the U.S. dollar, 71.34 U.S. cents.The manufacturing sector posted its first increase in job gains since January.This sector accounts for almost a tenth of the labor force and has been the worst hit due to U.S. tariffs this year. But September data showed this sector posted the highest jobs gains in absolute numbers at 27,800, a jump of 1.5% from August.The agriculture sector posted an increase of 6.1% and jobs in the natural resources sector increased by 2.2%.The average hourly wage of permanent employees - a gauge closely tracked by the Bank of Canada to ascertain inflationary trends - grew by 3.6% in September on a yearly basis to C$37.87, same percentage increase as last month.Reporting by Promit Mukherjee; Editing by Dale Smith and Toby Chopra

Canada posts surprise jump in job gains in September, unemployment rate unchanged

Oct 10 (Reuters) - A group of banks including Bank of America (BAC.N), , Citi (C.N), Deutsche Bank (DBKGn.DE), Goldman Sachs (GS.N), and UBS (UBSG.S), will work together to explore creating blockchain-based assets pegged to G7 currencies, the banks said on Friday.The project, which is in its early stages, will explore creating assets on public blockchains which are pegged 1:1 to real-world currencies - known as stablecoins.Various banks and other financial institutions have announced plans to look at launching stablecoins, as soaring crypto prices and U.S. President Donald Trump's support for the sector has sparked a revival of interest in the idea of using blockchain in the mainstream financial system.The market for stablecoins, however, is dominated by the El Salvador-based Tether, which accounts for $179 billion of the $310 billion worth of stablecoins in circulation, according to CoinGecko."The objective of the initiative is to explore whether a new industry-wide offering could bring the benefits of digital assets and enhance competition across the market, while ensuring full compliance with regulatory requirements and best practice risk management," the statement said.The banks involved are Santander (SAN.MC), Bank of America (BAC.N), Barclays (BARC.L), BNP Paribas (BNPP.PA), Citi (C.N), Deutsche Bank (DBKGn.DE), Goldman Sachs (GS.N), MUFG Bank Ltd MTFGTU.UL&gt;, TD Bank Group (TD.TO), and UBS (UBSG.S), .France's Societe Generale (SOGN.PA), which was not included in the list, became the first major bank to issue a dollar-backed stablecoin through its digital asset subsidiary earlier this year. The token has not been widely adopted, with just $30.6 million in circulation.A separate consortium of nine European banks including heavyweights ING (INGA.AS), and UniCredit (CRDI.MI), said last month they were forming a new company to launch a euro-denominated stablecoin.Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes

Major banks explore issuing stablecoin pegged to G7 currencies

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