POLICY BANKS IN CHINA
US midterm results may give India trade leverage, but tariff and AI risks remain
The US midterm results may give India some room in trade negotiations by increasing congressional scrutiny of executive action, but they do not remove tariff risks or alter Washington's strategic priorities. AI investment is also unlikely to retreat, with capital expected to remain within the US rather than shift significantly to emerging markets.
Gold's short-term volatility contrasts with long-term bullishness
Recently, gold prices have leveled out at approximately $4,000 an ounce after experiencing notable volatility throughout the year. This stabilization has attracted increased investor interest, spurred by central bank acquisitions amid economic unpredictability. Moreover, demand for gold jewelry has seen a significant uptick in regions like India and China, thanks to decreased prices.
Gold edges up as softer crude tempers inflation concerns
Gold prices edged higher on Monday as softer oil prices eased inflation concerns, though gains were capped by expectations that the Federal Reserve will keep US interest rates higher
Rubio to visit France on first post-midterm foreign trip to face questions on Trump policies
US Secretary of State Marco Rubio will attend the G7 foreign ministers meeting in France this weekend. This trip follows significant Republican losses in the midterm elections, raising questions about Trump's international policies. Rubio is expected to address various global issues, including the Iran and Russia-Ukraine conflicts. The meeting aims to cover topics like energy security and support for Ukraine amidst ongoing challenges.
India bonds emerge as top Asian performers as oil, Treasury yields decline
This week, Indian government bonds saw a positive trend following a Democratic win in the U.S. midterm elections. The reduction in oil prices and Treasury yields eased rupee pressure, boosting investor confidence. The benchmark bond yield improved significantly, declining by approximately 22 basis points. Furthermore, the surge in foreign investments into Indian bonds marked a notable high since July, leading to enhanced overall market sentiment.
Yuan set for first weekly loss in six weeks as equity rout dents sentiment
China’s yuan headed for its first weekly decline in six weeks as weaker PBOC guidance and a sharp equity selloff hurt sentiment. While the central bank appears wary of rapid appreciation, seasonal exporter conversions could support the currency toward year-end.
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US midterms upended Congress but Trump still commands foreign policy
Following the Republican Party's recent electoral losses, President Trump's domestic influence appears to have diminished significantly. Despite these setbacks, Trump retains considerable freedom to implement his foreign policy agenda. Democrats are poised to seek increased oversight of Trump's actions, especially concerning Iran and Israel. Challenges may arise as Trump continues to navigate these international affairs amid growing scrutiny.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
Gold's 192% Dhanteras rally: Rs 92,000 jump in five years, but can the yellow metal reclaim its lost shine in 2027?
Gold has delivered nearly 192% returns over the past five Dhanteras celebrations, but a sharp correction from its January peak has clouded the outlook. Experts assess whether investors should buy the dip, while brokerages share their gold and silver price targets for 2027.
Trump's midterm defeat dims hopes of North Korea meeting
A meeting between Donald Trump and Kim Jong Un seems less likely following Trump's midterm election defeat. Analysts believe Kim has less incentive to engage with Trump in the current political environment. North Korea's leadership expresses reluctance to resume dialogue, citing distrust toward the US government. The ongoing nuclear ambitions of North Korea add complexity to potential negotiations between the two leaders.
From Iran to trade, how the US midterms impact the rest of the world
US Democrats' recent midterm election victories could influence global relations, especially concerning Iran and Israel. The potential for a peace deal with Iran seems viable as US voters oppose prolonged conflicts. In Ukraine, Democrats may propose increased financial and military aid, which could face delays. Additionally, Asian countries may reconsider investment pledges to avoid tariffs in light of these outcomes.
China Banks' applications for PBOC stock loan scheme exceed 200 billion yuan
China's central bank said applications for loans under its stock-purchase financing scheme have exceeded 200 billion yuan. The PBOC has also cut the relending rate to 1%, stepping up efforts to support share buybacks and stabilise equity markets.
China stocks struggle near one-year lows despite fresh government support measures
Chinese stocks struggled near one-year lows despite fresh government measures to support the market, as investors remained cautious ahead of the US midterm elections. Concerns over China's economic outlook and technology stocks continued to weigh on sentiment.
Chinese yuan hits over two-week low against dollar as PBOC signals caution on appreciation
China’s yuan weakened to a more than two-week low against the dollar after the central bank set a weaker daily fixing and raised foreign exchange reserve requirements. The moves signal Beijing’s efforts to moderate the currency’s rapid appreciation.
Gold prices ahead of Dhanteras: Up 10% in a year, but is the worst of correction still ahead?
Gold has outperformed the Nifty and Sensex since Dhanteras 2025, despite falling sharply from its January peak. With inflation concerns, Fed rate expectations and weak demand weighing on prices, analysts remain divided on its near-term outlook, while major banks see scope for a recovery in 2027.
Dollar dips with US midterm results in focus
The dollar lost ground against key international currencies as investors anticipated Democratic victories in the upcoming US midterm elections. With Democratic Senator Jon Ossoff's reelection in Georgia as a noteworthy milestone, analysts suggest a potential Democratic majority in both the House and Senate could alter future government spending policies. Meanwhile, oil prices are stable amid ongoing geopolitical issues, particularly those concerning Iran and Ukraine.
Displeased by spotty obedience, Xi Jinping continues culling party leaders
A record number of officials have been expelled from the Chinese Communist Party during the recent plenum. Among those removed were senior military officials and party secretaries, indicating a significant ongoing purge. Xi Jinping's anti-corruption campaign remains aggressive as he attempts to assert control over the party. The plenum's focus highlights the challenges Xi faces in maintaining party governance amidst internal dissent.
Chinese stocks fall as investors unimpressed by fresh market support measures
Chinese stocks declined as selling in energy and technology shares outweighed fresh regulatory measures aimed at supporting the market. Investor sentiment remained weak amid concerns over the property sector and disappointment that the latest policy steps fell short of expectations.
Gold price prediction: Gold prices extend losses on Tuesday. Check outlook for November 3
Investors are now looking to the US midterm elections for indications of the country's fiscal policy direction and their potential impact on broader market sentiment.
Explained: Why gold investors should tone down expectations as yellow metal plunges to a 1-year low
Gold has fallen more than 30% from its January record high, with rising oil prices, inflation concerns and expectations of further Fed rate hikes adding to pressure. Analysts remain cautious about a near-term recovery, even as major banks retain bullish forecasts for 2027.
China stocks edge higher as reports of market support lift sentiment
China’s stock market edged higher after reports that regulators would discuss measures to support capital markets. However, concerns over state-backed Zhuhai Huafa Group’s liquidity continued to weigh on related stocks and bond funds.
Yuan hovers near four-year high as investors eye US midterm elections
China’s yuan traded near a more than four-year high against the US dollar, supported by expectations of further appreciation. Investors tracked the central bank’s currency guidance, policy measures and potential market implications of the US midterm elections.
China lowers funding costs with shift to overnight policy rate
China's central bank has implemented a major alteration to its monetary policy by establishing an overnight lending rate, which injects substantial liquidity into the banking sector. This initiative seeks to alleviate costs for financial entities and stimulate economic growth in light of increased credit risks. Experts estimate this change could lower interest rates by 15 basis points, thereby maintaining profitability among financial institutions.
Gold lingers near one-year low as Fed hike expectations firm
Gold prices experienced a minor uptick in early trading across Asia; however, they linger near a one-year low. Persistent worries about inflation are bolstering expectations for an impending Federal Reserve rate increase this year. The recent drop in tech stocks has placed additional strain on bullion prices, prompting a sell-off in safe-haven investments. Buyers in major Asian markets, especially India and China, remain hesitant amid expectations of further price declines.
Global Market: Chinese yuan hits four-year high, heads for fourth straight monthly gain
China’s yuan reached its strongest level against the US dollar in more than four years, supported by exporter dollar sales, robust exports and a weaker greenback. The currency has gained about 5% this year, while the PBOC’s stronger daily fixing suggests policymakers are comfortable with its appreciation, though the pace may moderate.
IMF proposes China’s Min Liao as deputy managing director, Bo Li to exit in November
The International Monetary Fund has nominated Min Liao, China’s Vice Minister of Finance, for Deputy Managing Director. His appointment follows the term expiration of Bo Li, which ends on November 30, 2026. Liao has extensive experience in financial regulation and macroeconomic governance, contributing to global economic policy coordination. He has played significant roles in various financial institutions since beginning his career.
Global Market: Japan bond yields steady ahead of BOJ policy decision
Japanese government bond yields remained largely steady ahead of the Bank of Japan’s policy decision on Friday, supported by strong demand at a two-year bond auction and gains in US Treasuries. Markets expect the BOJ to hold rates steady, while a Reuters poll points to a possible 25-basis-point hike in December.
Global Market: China’s yuan hits four-year high against dollar after Fed holds rates
China’s yuan climbed to a four-year high against the US dollar, supported by the central bank’s firm guidance and the Federal Reserve’s decision to hold interest rates steady. The People’s Bank of China continued managing appreciation, while investors awaited the European Central Bank’s policy decision for further currency market direction.
Global Market: China's yuan holds near four-year high as markets await Fed decision
China’s yuan held near a four-year high against the US dollar as investors awaited the Federal Reserve’s policy decision for clues on the US interest rate outlook. The currency drew support from stronger-than-expected industrial profit growth, while concerns over persistent inflation and elevated energy prices kept markets alert to potential monetary tightening.
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