But
- Minister tells Cameron “chery picking” on Europe is not an option
- Wants ambitious reform of euro area (that’ll be a first)
- Wants more integration in Europe (I want to go to Davos this week to meet Charlize Theron, but it ain’t gonna happen)
But
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Amazon's 9.6% surge lifts S&P 500 near all-time high; traders eye AI spending risks & China trade.
FX option expiries for Monday 3 November (10am New York cut). USD/JPY expiries remain heavily concentrated near the 150 strike. Notable euro and sterling interests at 1.1450 and 1.3100.
Asia's manufacturing slows on weak US demand & tariffs. China & SK PMIs dip, export orders fall. Traders eye trade deal impact.
Asia's manufacturing slows on weak US demand & tariffs. China & SK PMIs dip, export orders fall. Traders eye trade deal impact.
Bitcoin dips 1.7% to $108k, ETH down 3.5% as traders eye jobs data & rate cut hopes fade. Risk-off sentiment prevails.
Yale’s Budget Lab found the effective U.S. tariff on Chinese goods was just 27.8% before the Busan deal, not the 57% cited by Trump. After the 10% cut, it’s closer to 17.8%, revealing a “TACO gap” between statutory and real rates.
XPeng & Nio hit record EV sales in China! Nio delivers 40K+ in Oct, XPeng up 76%. Watch for year-end push & 110M yuan promo.
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