Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
The Canadian dollar weakened significantly after weaker-than-expected inflation data, with a notable drop in headline CPI to 1.6% influenced by falling gasoline prices. The inflation below the BOC target of 2% increased the chance of a 50 bpbs rate cut by the Bank of Canada at its October 23 meeting.
In contrast, the British pound found support from mixed labor market data, with the unemployment rate falling to 4%, while wage growth slowed. This situation presents a balanced outlook regarding a potential rate cut from the Bank of England (BoE) in November, with market attention now turning to the forthcoming UK CPI data.
Germany's ZEW Economic Sentiment index rose from 3.6 to 13.1 in October, exceeding expectations. Despite a drop in the Current Situation Index, optimism is driven by stable inflation, anticipated ECB rate cuts, and positive signals from key export markets, including China's economic stimulus measures.
Yesterday, the Canadian dollar was the weak performer followed by the Australian and New Zealand dollar. The uncertainty over Chinese policy and fresh stimulus package weighing on AUD and NZD.
