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China permits non-state trade imports of 257 million metric tons of crude oil in 2026PBOC sets USD/ CNY mid-point today at 7.0930 (vs. estimate at 7.1219)South Korean exports fall 7.8% in October, fuelling bets on a November BOK rate cutI’ll be at the ‘Australia FIX Conference 2025’ on Wednesday, Sydney time – come say hello!Morgan Stanley sees ‘historic’ stock picking chance, names Pinterest a top buyS&P 500 at risk from ‘forced selling’ due to private credit, BofA warnsUK chancellor to cut red tape for 100,000 businesses, saving £6bnCanada Energy Regulator simplifies approval for negligible-risk oil and gas projectsArgentina’s $20bn bank loan stalls as lenders demand US guarantees… argy bargy continuesTrump admin evaluating Fannie Mae and Freddie Mac public offering for end-2025German tax revenue rises 2.6% in September, but finance ministry warns of weak economyThe US Treasury proposes additional tariffs of up to 100% on NicaraguaNew Zealand September trade balance -1355mn NZD (prior -1185mn)AUD/USD – analysts nominate 0.6420 level as the one to watchTrump threatened China with 155% tariffs. Taco man becoming random number guy.Goldman Sachs on US CPI & jobs – labor market indicators more reliable on recession riskUS court gives the go ahead for Trump to put troop “boots on the ground”investingLive Americas market news wrap: Gold rebounds to fresh all-time high
News
and data flow was very light during the session here. Major FX rates
traded in small ranges only, characterised by a little softness for
the US dollar early before recovering. Regional equities caught a tailwind from the up move
on Wall Street on Monday. Australian rare earth miners surged on the
US$8.5 bn US critical minerals deal announced Monday.Data
from New Zealand showed a larger trade deficit in September than in
August. Exports in September were lower than in August while imports
were a touch higher. Further rate cuts are expected from the Reserve
Bank of New Zealand due to concerns over growth.
From
the US the Wall Street Journal reported that a $US20 billion private
bank loan to support Argentina’s President Milei is stalled as
lenders, including JPMorgan and Goldman Sachs, demand a U.S. Treasury
backstop before lending to the “virtually-bankrupt” nation.Meanwhile, FHFA
Director William Pulte confirmed the Trump administration is
“opportunistically evaluating” a public offering for Fannie
Mae and Freddie Mac, potentially by end-2025, to finally end their
2008-era government conservatorship.From
China was the news that China’s Commerce Ministry will permit
non-state trade imports of 257 million metric tons of crude oil in
2026. This is the same as this year and indicates Beijing is not
confident in growing demand, or that stockpiles are sufficient.
The
People’s Bank of China set CNY at its strongest since October 15
last year at the reference rate fix today. USD/CNY traded lower at
the open.
Japan’s
new PM Takaichi began naming her cabinet today. The yen lost some
ground. Gold stayed close to its new record high.
This article was written by Eamonn Sheridan at investinglive.com.
💡 DMK Insight
China’s decision to allow non-state trade imports of 257 million metric tons of crude oil in 2026 is a pivotal shift that traders need to watch closely. This move could significantly alter the dynamics of global oil supply, especially as it comes at a time when geopolitical tensions and OPEC+ production cuts are influencing prices. The increased import capacity may lead to a surge in demand from independent refiners, potentially tightening the market and pushing prices higher in the short term. On the currency front, the PBOC’s mid-point setting of USD/CNY at 7.0930, which is stronger than the market’s expectations, suggests a strategic move to stabilize the yuan amid economic pressures. Traders should keep an eye on the USD/CNY pair, especially if it tests key resistance levels around 7.10. A stronger yuan could also impact commodity prices, making imports cheaper for China, which could further influence crude oil demand. With South Korean exports falling 7.8%, the Bank of Korea’s potential rate cut in November could lead to increased volatility in the Korean won and related assets. Traders should monitor these developments closely, as they could create ripple effects across Asian markets and influence risk sentiment globally.
📮 Takeaway
Keep an eye on the USD/CNY pair and crude oil prices, as shifts in China’s import policies and currency stabilization efforts could create significant trading opportunities.
