- China permits non-state trade imports of 257 million metric tons of crude oil in 2026
- PBOC sets USD/ CNY mid-point today at 7.0930 (vs. estimate at 7.1219)
- South Korean exports fall 7.8% in October, fuelling bets on a November BOK rate cut
- I'll be at the 'Australia FIX Conference 2025' on Wednesday, Sydney time - come say hello!
- Morgan Stanley sees 'historic' stock picking chance, names Pinterest a top buy
- S&P 500 at risk from 'forced selling' due to private credit, BofA warns
- UK chancellor to cut red tape for 100,000 businesses, saving £6bn
- Canada Energy Regulator simplifies approval for negligible-risk oil and gas projects
- Argentina's $20bn bank loan stalls as lenders demand US guarantees... argy bargy continues
- Trump admin evaluating Fannie Mae and Freddie Mac public offering for end-2025
- German tax revenue rises 2.6% in September, but finance ministry warns of weak economy
- The US Treasury proposes additional tariffs of up to 100% on Nicaragua
- New Zealand September trade balance -1355mn NZD (prior -1185mn)
- AUD/USD - analysts nominate 0.6420 level as the one to watch
- Trump threatened China with 155% tariffs. Taco man becoming random number guy.
- Goldman Sachs on US CPI & jobs - labor market indicators more reliable on recession risk
- US court gives the go ahead for Trump to put troop "boots on the ground"
- investingLive Americas market news wrap: Gold rebounds to fresh all-time high
News and data flow was very light during the session here. Major FX rates traded in small ranges only, characterised by a little softness for the US dollar early before recovering. Regional equities caught a tailwind from the up move on Wall Street on Monday. Australian rare earth miners surged on the US$8.5 bn US critical minerals deal announced Monday.
Data from New Zealand showed a larger trade deficit in September than in August. Exports in September were lower than in August while imports were a touch higher. Further rate cuts are expected from the Reserve Bank of New Zealand due to concerns over growth.
From the US the Wall Street Journal reported that a $US20 billion private bank loan to support Argentina's President Milei is stalled as lenders, including JPMorgan and Goldman Sachs, demand a U.S. Treasury backstop before lending to the "virtually-bankrupt" nation.
Meanwhile, FHFA Director William Pulte confirmed the Trump administration is "opportunistically evaluating" a public offering for Fannie Mae and Freddie Mac, potentially by end-2025, to finally end their 2008-era government conservatorship.
From China was the news that China’s Commerce Ministry will permit non-state trade imports of 257 million metric tons of crude oil in 2026. This is the same as this year and indicates Beijing is not confident in growing demand, or that stockpiles are sufficient.
The People’s Bank of China set CNY at its strongest since October 15 last year at the reference rate fix today. USD/CNY traded lower at the open.
Japan’s new PM Takaichi began naming her cabinet today. The yen lost some ground.
Gold stayed close to its new record high.
