ASIA/PACIFIC
-The Australian stock market closed higher on Thursday following the broadly positive cues from Wall Street overnight, as investors digested the implications of Donald Trump’s election win.
-China’s CSI 300 led gains in Asia as Chinese October exports data sharply beat market expectations and People’s Bank of China (PBoC) Governor Pan Gongsheng assured foreign financial institutions that China will maintain its supportive monetary policy.
-Trump win heralds higher tariffs for Asian businesses, the Nikkei Asia reported. From China to Japan, the Philippines to India, nations prepare for more volatility.
. EUROPE
– European markets opened slightly higher as Germany’s ruling coalition collapses after Chancellor Olaf Scholz fires finance minister and mulls early elections by end of March.
-In the U.K., the Bank of England is widely expected to cut rates on Thursday, which would be the second such trim this year.
-Goldman Sachs has cut its growth forecasts for the UK and the eurozone following Trump’s election as President of the United States.
. AMERICAS
North America
– US stock futures gained slightly after a huge market rally following Trump’s decisive victory in the presidential election. Traders also await the Fed’s interest rate decision later in the day, and look forward to the accompanying statement for clues about the likelihood of future rate cuts.
Latin America
-The Argentine financial markets experienced a significant upturn after Trump was re-elected president of the United States
-Brazilian central bank raised the Selic rate to 11.25%. Policymakers indicated that future rate adjustments will depend on inflation trends and evolving risk factors.
. AFRICA
-The Research Team at Nairametrics: What Donald Trump’s second Presidency means for Nigerian economy.
-The Central Bank of Egypt (CBE) net international reserves reached $46.941bn in October 2024, compared to $46.736bn in September.
-Tunisia’s inflation rate remained stable at 6.7% in October 2024, the National Institute of Statistics (INS) said on Tuesday.
. MIDDLE EAST
-Zawya breaks down what a Trump 2.0 presidency means for investors in the Middle East.
-Saudi Arabia led the IPO activity in the MENA region, raising $27mln in Q3, according to Brad Watson, EY MENA Strategy and Transactional Leader.
-The Central Bank of the UAE (CBUAE) announced an auction of Monetary Bills (M-Bills) on November 11.
. COMMODITIES
GOLD
Spot gold fell 0.1% to $2,656.34 per ounce, as of 0327 GMT, while U.S. gold futures shed 0.5% to $2,663.60.
OIL
Brent crude oil futures rose 26 cents, or 0.35%, to $75.18 per barrel by 0125 GMT. U.S. West Texas Intermediate (WTI) crude gained 16 cents or 0.22% to $71.85.
