KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally 
Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
US Dollar Slips as Softer PPI Data Eases Fed Rate Hike Expectations 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
France Inflation Rises 2.4% in July as Consumer Prices Increase 
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Lots of economic dockets and events scheduled for today and some with high volatility risks associated.
Data released so far:
- United Kingdom: BRC retail sales grew 1.7 percent in September from ayear ago.
- Australia: National Australia bank’s business confidence marginally declined to 4 from 6 and business conditions declined from 8 to 6.
- China: Trade balance for October came at $49 billion. Imports declined 1.4 percent y/y and exports declined 7.3 percent y/y.
- Japan: Leading economic index marginally declined to 100.5 and coincident index rose to 112.1
Upcoming:
- Switzerland: Unemployment report for October will be released at 6:45 GMT.
- Germany: Industrial production report for September will be released at 7:00 GMT, along with trade balance report.
- France: Trade balance report for September will be published at 7:45 GMT.
- United Kingdom: Manufacturing and industrial production report for September will be released at 9:30 GMT, followed by inflation report hearings at 10:00 GMT. NIESR will release its GDP estimate at 15:00 GMT.
- United States: NFIB Business optimism index will be published at 11:00 GMT, followed by JOLTS jobs report at 15:00 GMT. Fed’s Evans is scheduled to speak at 17:20 GMT.
- New Zealand: Electronic card retail sales will be reported at 21:45 GMT.
- Australia: Westpac consumer confidence for November will be released at 23:30 GMT.
- Japan: trade balance report for September will be published at 23:50 GMT.
- Auction: US will auction 1-month and 12-month bills at 16:30 GMT and 3-year note at 18:00 GMT.
