- The Reserve Bank of Australia kept its cash rate at 3.6%, which was in line with expectations.
- Futures suggest a weaker opening — EU50 quotes fell 0.8% after slight gains yesterday.
- The Reserve Bank of Australia kept its cash rate at 3.6%, which was in line with expectations.
- Futures suggest a weaker opening — EU50 quotes fell 0.8% after slight gains yesterday.
Asian stock markets opened mostly lower, following mixed sentiment on Wall Street, although technology continued to perform better. Japan's Nikkei index lost about 0.36%, South Korea's Kospi fell 1.6%, and the Shanghai Composite fell 0.19%. In Hong Kong, however, the Hang Seng gained 0.2%. Despite optimism surrounding the AI-driven tech rally, investors remain cautious about rising valuations and signals from the Fed regarding interest rate policy.
The Reserve Bank of Australia kept its cash rate at 3.6%, in line with expectations, emphasizing that part of the rise in inflation in the third quarter was temporary. In European markets, futures suggest a weaker opening — Euro Stoxx 50 futures fell 0.8% after slight gains on Monday. The DXY currency index remains stable, with antipodean currencies, especially the AUD, losing ground after the RBA's decision. The Japanese yen is performing better, supported by demand for safe-haven assets and verbal interventions.
Today's events on the macroeconomic calendar include a press conference by UK Chancellor Reeves announcing a possible break on the promise not to raise income tax, data from Canada and New Zealand, key speeches by central bankers, and quarterly results from companies such as Phillips, Evonik, Ferrari, BP, AMD, Supermicro, Marathon, Pfizer, and Uber, which will be important for further market movements.
Detailed calendar for the day below (BST):
08:40, Eurozone - Speech by ECB President Lagarde
09:00, Spain - October labor market data:
- Change in Spain's unemployment rate: forecast 5.2K; previous -4.8K;
09:00, New Zealand - RBNZ Financial Stability Report
11:00, Eurozone - Speech by ECB President Lagarde
12:35, United States - Speech by FOMC Banker Bowman
14:30, Canada - Trade balance for September:
- Export value: previously 60.58B;
- Import value: previously 66.91B;
- Trade balance: previously -6.32B;
22:30, United States - EIA report:
- Weekly API crude oil inventory report: previous -4,000M;
22:45, New Zealand - Q3 labor market data (labor costs, employment change, unemployment rate)
23:00, New Zealand - Speech by RBNZ Governor Orr
UK Gilt yields start to normalise, but the pound is a hard sell
Crypto news: Bitcoin sell-off extends 📉Ethereum falls below important support zone
The mood for markets shifts, as risk aversion takes hold
Morning Wrap (04.11.2025)
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