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Overnight & Early Session
- Asia equities firmer: Regional stocks advanced on optimism around a fresh U.S.–China trade truce and AI enthusiasm; Japan was shut for a holiday. The USD stayed firm after hawkish Fed commentary, keeping the euro/sterling softer and yen near recent lows.
- Oil edges higher: OPEC+ paused planned output hikes for Q1, lifting WTI/Brent from recent lows; gains also reflected steadier risk tone.
- Crypto slips: Bitcoin fell below $108k–$109k amid a wave of liquidations, pressuring broader crypto.
- U.S. futures slightly up: Wall Street looks to extend October’s momentum into November.
FX
- Dollar bid on reduced odds of a near-term Fed cut; EUR/USD and GBP/USD softer, USD/JPY elevated as yen underperforms.
- Focus today: U.S. manufacturing data (PMI/ISM) for read-through on growth and the dollar path.
Equities
- Asia: Broad gains led by Korea/China; AI theme supportive.
- U.S. futures: Small positive bias pre-open.
Commodities
- Crude oil: Extends rebound as OPEC+ stands pat on output hikes; WTI ~low-$60s, Brent ~mid-$60s in morning chatter.
- Metals: Gold choppy but underpinned by macro uncertainty and dollar dynamics.
Crypto
- BTC/ETH weaker after a sharp selloff and sizeable liquidations; watch the $108k–$109k BTC area as a near-term support zone cited by traders.
Today’s Key Headlines
- OPEC+ pauses Q1 output hikes → crude steadies higher.
- U.S.–China trade truce headlines buoy Asia sentiment.
- Crypto stumble → BTC breaks below $109k amid liquidations.
Winners & Losers (Global)
- Winners:
- Asian equities ex-Japan (AI optimism, trade truce).
- Crude oil (WTI/Brent) (OPEC+ pause).
- Losers:
- BTC/crypto complex (liquidations, risk wobble).
- EUR & GBP vs USD (hawkish-leaning Fed tone).
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