- Japan Q3 GDP revised -2.3% annualized vs -2.0% expected
- What’s the big contrarian trade for 2026? Commodities according to BofA
- China posts another massive trade surplus
- IBM nears deal to buy Confluent at below the IPO price
- Macron threatens tariffs on China “in the coming months” due to trade surpluses
- Japan October current account +2833b vs +3109B expected
- Trump on restarting trade talks with Canada: We’ll work it out
- Japan October labor cash earnings +2.6% vs +2.2% prior
Markets:
- Gold up $13 to $4209
- US 10-year yields flat at 4.13%
- WTI crude oil up 12-cents to $60.20
- S&P 500 futures up 0.2%
- JPY leads, CAD lags
The US dollar was generally softer to start the week after Friday’s strength. The yen was stronger despite the softer GDP data as the market begins to zero in on a BOJ hike next week. The moves overall for far are soft.
The headline on Macron and China probably didn’t get as much attention as it deserves, maybe because the market sees it as a hollow threat given the internal politics of the EU. Trump was fairly positive on Canada but there was little movement in CAD, similarly to when he broke off talks.
Gold is sold to begin the week while bitcoin has traded in a wide range already from $89-92K. It’s rebounded towards the top of that range after some selling as Asian markets opened.
This article was written by Adam Button at investinglive.com.