- After a moderately positive European session on Thursday and no trading on Wall Street, Friday's sentiment in the Asian session was mostly weak. The HangSeng lost more than 1.7%, and South Korea's KOSPI lost 0.7%. Japan's Topix and Nikkei gained within 0.5%.
- Hong Kong stocks once again erased Thursday's gains, helped by China's real estate bailout, pointing to long-term problems for the Chinese economy
- After euphoric rally of nearly 9% on Thursday, China's developers index lost more than 1.5%. The earlier surge followed a Bloomberg report that indicated China may allow banks to provide unsecured short-term loans to qualifying construction companies for the first time, in an attempt to stem the housing collapse
- The White House hopes that the release of hostages held by Hamas would begin today, but the situation remains uncertain. A spokesman for the Hamas organization's armed wing, Abu Ubaida called for an escalation of confrontation with Israel on all fronts of resistance
- Brent crude oil is gaining slightly, 0.3%, and is trading above $81 per barrel. According to sources, OPEC+ and African member countries in the group are closer to a compromise on production levels for 2024
- A survey of economists on the RBNZ indicated unanimously that the bank will keep interest rates at 5.50% until at least the end of June 2024. 15 of 26 economists indicated that the bank will cut rates by 25 bps by the end of Q3 2024
- Quarterly New Zealand retail sales came in better than expected: 0% vs. -0.7% forecast and -1% previously
- Japan's flash PMI by Jibun Bank MFG indicated 48.1 vs. 48.7 previously. CPI reading indicated 3.3% vs. 3.4% forecast and 3% previously. The core inflation data came in 2.9% vs. 3% expectations and 2.8% previously
- Yields on 10-year U.S. bonds rose more than five basis points after European bond prices fell yesterday.
- UK GfK consumer sentiment came in better than expected, indicating -24 versus -28 expected and -30 previously
- Huw Pill of the Bank of England indicated that the central bank cannot ease a monetary policy, pointing to weaker economic activity while employment is growing
- Goldman Sachs raised the Bank of Turkey's expected interest rate to 42.5%
- U.S. and European futures are currently trading flat. Futures on Asian indexes, which have already closed the session, are currently losing. EURUSD is trading flat
- Cryptocurrencies are trading in mostly positive sentiment. Bitcoin is still consolidating around $37,400
Economic calendar: All eyes on earnings; EIA report and ECB speeches (22.10.2025)
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