Global Markets:
- Asian Stock Markets : Nikkei up 4.48%, Shanghai Composite up 0.52%, Hang Seng down 0.69% ASX down 0.11%
- Commodities : Gold at $3,954.90 (1.18%), Silver at $48.40 (1.07%), Brent Oil at $65.49 (1.4%), WTI Oil at $61.9 (1.4%)
- Rates : US 10-year yield at 4.152, UK 10-year yield at 4.6934, Germany 10-year yield at 2.7000
News & Data:
- (USD) ISM Services PMI 50.0 to 51.8 expected
Markets Update:
Asian markets traded mixed in thin holiday sessions on Monday, with Japan standing out after the election of fiscal dove Sanae Takaichi as leader of the ruling party. Japan’s Nikkei index surged 4.5 percent to a record high, supported by plunging bond yields and a weaker yen, which slipped 1.5 percent to 150 per dollar.
China and South Korea remained closed for holidays, while other regional markets edged lower amid concerns over U.S. President Donald Trump’s tariff stance and pressure on the Federal Reserve’s independence. Hong Kong’s Hang Seng fell 0.55 percent to 26,992, while Australia slipped slightly after recent highs. New Zealand’s S&P/NZX-50 dipped 0.20 percent to 13,487.03. Reports suggested Trump may announce a $10 billion bailout for soybean farmers, highlighting Beijing’s leverage in trade talks.
In commodities, oil rose nearly 1.5 percent after OPEC+ confirmed a modest November production hike of 137,000 barrels per day. Gold climbed almost 1 percent past $3,900 an ounce as shutdown worries and expectations of further Fed rate cuts boosted demand. The dollar held steady after recent volatility.
On Wall Street, U.S. markets closed mixed Friday. The S&P 500 inched higher and the Dow gained 0.5 percent, while the Nasdaq eased 0.3 percent on declines in Palantir. European stocks finished mostly higher, with the Stoxx 600 up 0.5 percent, FTSE 100 advancing 0.7 percent, and CAC 40 rising 0.3 percent, though Germany’s DAX slipped 0.2 percent.
Upcoming Events:
- 09:00 AM GMT – EUR Retail Sales m/m
- 05:00 PM GMT – EUR ECB President Lagarde Speaks
- 05:30 PM GMT – GBP BOE Gov Bailey Speaks
