Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Norway Core Inflation Rises to 3% in August 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
China Inflation Accelerates in August as CPI, PPI Rise 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Asian Stocks Mixed as Korean Chipmakers Rally 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
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U.S. Dollar Strengthens
The US Dollar extended its bullish trend, supported by US Treasury yields which surged past the 4.3% level.
Housing Market Insights
The S&P/Case-Shiller Home Price Index Composite-20 showed a year-over-year increase of 5.2% in October 2024, surpassing the forecast of 4.9% but lower than last year's 5.9% rise. The Conference Board Consumer Confidence Index also saw a significant rebound, jumping to 108.7 in October from 99.2 in September, marking the strongest monthly gain since March 2021.
Trump's Crypto Ambitions
Donald Trump is embracing cryptocurrency, aiming to make the U.S. a leading hub for digital currencies. He is also planning to remove SEC Chair Gary Gensler, who has faced criticism from crypto supporters. He is accepting campaign donations in cryptocurrencies, appealing to crypto enthusiasts, while analysts anticipate that a Trump victory could boost Bitcoin's value.
Currency Performance Overview
The British Pound is holding strong as the U.S. Dollar rises, remaining the only major currency that is sturdy. The Australian Dollar and Swiss Franc are struggling, with traders awaiting key inflation data that may influence the Reserve Bank of Australia's policy. The Japanese Yen remains weak, with officials closely monitoring the USD/JPY rate as it approaches the important level of 155.
