Product Launch - Circle launches StableFX, an institutional-grade stablecoin FX engine combining RFQ execution with onchain settlement [1] - Circle introduces Circle Partner Stablecoins, a program supporting select regional issuers to expand stablecoin currencies available in StableFX [2] StableFX Features - StableFX aims to deliver seamless execution, a wide range of assets, and instant settlement [2] - StableFX is designed for competitive RFQ pricing across liquidity providers, instant onchain settlement, and 24/7 capital-efficient design [3] Partner Stablecoins - Initial participants in Circle Partner Stablecoins include AUDF, BRLA, JPYC, KRW1, MXNB, PHPC, QCAD, and ZARU [4] Technology and Access - StableFX is currently live on @Arc Testnet [2]

New Product Launch - Circle 发布 StableFX，一个机构级别的稳定币外汇引擎，结合了询价执行（RFQ execution）与链上结算 [1] - Circle 推出 Circle Partner Stablecoins 计划，支持特定的区域发行方，扩大 StableFX 中可用的稳定币种类 [2] Technology and Design - StableFX 目前在 @Arc Testnet 上线 [2] - StableFX、Circle Partner Stablecoins 和 Arc 旨在提供无缝执行、广泛的资产范围和即时结算 [2] - StableFX 提供有竞争力的询价（RFQ）定价，覆盖多个流动性提供商 [3] - StableFX 支持即时链上结算 [3] - StableFX 采用 24/7 全天候资本高效设计 [3] Partner Stablecoins - 初始参与者包括 AUDF by @ForteAUD, BRLA by @aveniaio, JPYC by @jpy_coin, KRW1 by @BDACSKorea, MXNB by Juno (a @Bitso company), PHPC by @coinsph, QCAD by @stablecorp, ZARU by the @ZARUniversal [4] Market Focus - 外汇市场是世界上最大的市场，但也是现代化程度最低的市场之一 [1] - 旨在加速向全球互联金融系统（运行在稳定币轨道上）的转变 [2]

特朗普记者会讲话全文https://t.co/rkUonFFBFQ外汇交易员 (@myfxtrader):https://t.co/zEm8774Ooh ...

Corporate Finance and M&A Activity - Coinbase (COIN) is set to acquire the crypto-investing platform Echo for approximately $375 million, marking its eighth acquisition this year and reflecting its active expansion amid favorable U.S. cryptocurrency policies [2][9] - Hon Hai Precision Industry Co. Ltd., a key supplier for Apple (AAPL), has mandated banks for its inaugural Euro bond sale, which could provide new capital to support operations and expand capabilities within the global technology supply chain [3][9] Q3 2025 Earnings Season Highlights - Elevance Health (ELV) reported adjusted earnings per share (EPS) of $6.03, significantly exceeding the estimated $4.93, with revenue of $50.09 billion surpassing the $49.38 billion estimate, although medical membership was slightly below projections [4][9] - Danaher (DHR) posted adjusted EPS of $1.89 against an estimated $1.72, with revenue of $6.1 billion exceeding the $6.01 billion estimate, reaffirming its full-year adjusted EPS outlook in the range of $7.70 to $7.80 [5][9] Currency Markets and European Politics - The USD/JPY currency pair extended its gains by 0.8% to reach a one-week high of 151.95, reflecting ongoing dynamics in global foreign exchange markets [6][9] - French President Emmanuel Macron reiterated the possibility of a referendum on pension reform, emphasizing its importance despite recent indications from Prime Minister Sebastien Lecornu to suspend the reform until after the 2027 presidential elections [7][9]

India’s central bank has started a fresh round of foreign exchange swaps that shore up liquidity, sources say, as its recent currency interventions drain cash from the banking system https://t.co/pjtcauRQi4 ...

Trade Performance - China's exports to the US in September decreased by 269% year-on-year [1] - China's exports to the US in September increased by 83% month-on-month [1] - China's September exports to the US amounted to 24488 billion RMB [1]

India has introduced real-time foreign exchange settlement operations at the Gujarat International Finance Tec-City, a move aimed at making the hub more attractive to global investors https://t.co/jMMraJZuiT ...

Market Trends - The Dollar Index DXY fell to its lowest level since July 4, with a nearly 05% intraday drop [1] Analyst Report - Deutsche Bank's foreign exchange weekly report suggests avoiding the US dollar [1]

Market Strategy - South Korea aims to be included in the MSCI Developed Markets Index [1] - South Korea is considering extending foreign exchange trading hours [1]

Core Insights - Abbott Laboratories (ABT) reported a gross profit of $6.29 billion in Q2, reflecting an 8.9% year-over-year increase, with a gross margin expansion to 56.4% driven by a favorable product mix, particularly in the Medical Devices segment [1][9] Financial Performance - The cost of products sold increased by 5.4% (excluding amortization), yet gross margin improved by 79 basis points (bps) [1][4] - Strong growth in diabetes care, structural heart, and electrophysiology within the Medical Devices segment contributed significantly to profitability [1][2] - The Nutrition business benefitted from continued demand for higher-margin products like Ensure and Glucerna [2] Market Conditions - Improved foreign exchange conditions, particularly a weaker U.S. dollar, provided a modest tailwind, contributing a 0.5% favorable year-over-year impact on sales [3] - Cost discipline in manufacturing and reduced COVID testing impact supported the gross margin improvement despite macroeconomic challenges such as tariffs and pricing pressures in China [4] Peer Comparison - Thermo Fisher (TMO) experienced a gross margin contraction of 83 bps to 41.2% due to declining COVID-related revenues, despite growth in core businesses [5] - Boston Scientific (BSX) saw a gross margin decline of 152 bps to 67.7%, primarily due to inventory charges from the discontinuation of its ACURATE valve, although underlying performance remained strong in high-margin areas [6] Stock Performance - Abbott's shares increased by 16.8% over the past year, outperforming the industry growth of 4.1% and the S&P 500's growth of 15.6% [7][9] Valuation Metrics - Abbott currently trades at a forward Price-to-Sales (P/S) ratio of 4.88X, below the industry average of 5.61X [10]