🚨 GGMA Markets Briefing: Oil Falls on Iran Diplomacy as Stocks Steady After Tech Rout
🇫🇷 Fitch kept France at A+ but cut its outlook to negative, citing weaker growth, higher borrowing costs and a wider deficit.
🛢️ Oil fell after a report that Trump wants to give diplomacy with Iran more time before potentially resuming strikes.
🇺🇸 Fed officials kept hikes in play before today's ISM factory survey, with St. Louis Fed President Musalem saying more firming will be necessary soon.
🇨🇳 China's central bank began daily operations at its new key rate, set below the old benchmark, after factory activity shrank.
🇰🇷 South Korea's chip exports rose again in October, extending the boom despite last week's tech rout.
🇦🇺 The RBA is expected to raise rates to 4.85% on Tuesday, the highest in 18 years, as house prices keep falling.
Today's Macro Roadmap: The Swiss manufacturing PMI is due at 09:30 CET, the final euro-area PMI follows at 10:00 CET, and the US ISM manufacturing index is out at 16:00 CET. ECB Vice-President Boris Vujčić speaks in Dublin at 10:45 CET, and Chicago Fed President Austan Goolsbee moderates a discussion at 17:15 CET. Apple reports after the US close, and Berkshire Hathaway is expected to report today.
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