RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
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.
