European Stocks Rise as Markets Await Key U.S. Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
AB Volvo Sees Decreased Profit Amid Demand Normalization
Swedish truck maker AB Volvo announced a disappointing third-quarter adjusted operating profit of 14.1 billion crowns ($1.34 billion), down from 19.3 billion crowns a year earlier and falling short of analyst expectations of 15.6 billion crowns, according to an LSEG poll. This reflects a 12% drop in sales, highlighting the ongoing slowdown in demand for heavy trucks.
The market for heavy trucks has been stabilizing following a post-pandemic surge, as demand returns to normal levels. Volvo forecasts the European heavy truck market for 2024 will reach 290,000 vehicles, while the North American market is expected to total 300,000 vehicles.
In terms of current market predictions, Volvo has revised its 2023 outlook for the European heavy truck market to 300,000 new vehicles, up from 290,000 estimated in July, while maintaining its forecast for North America at 290,000 vehicles.
*Exchange rate: $1 = 10.5328 Swedish crowns.*
