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In their meeting, Bessent underscored the importance for Japan to have 'sound' monetary policy formulation and communication in anchoring inflation expectations. All that so as to prevent any excess "exchange rate volatility". The headlines here are from a readout by the US Treasury department.The readout mentions that conditions now are substantially different from the introduction of Abenomics some 12 years ago. Adding that Bessent is also pleased to hear Katayama's perspective on Japan's latest fiscal plans and eager to better understand the potential impact of that.The part on making mention of "exchange rate volatility" is a little jibe at Japan with it being something that Trump was previously unhappy about, in accusing Tokyo of purposefully making its currency weaker. This article was written by Justin Low at investinglive.com.

S&P rates Saylor’s Bitcoin firm “B-”, 'junk', first credit grade for crypto treasury firmNomura sees recurring tension/truce cycle as new normal in U.S./China tiesTrump and Takaichi have signed their framework for securing critical mineral supplyPBOC sets USD/ CNY central rate at 7.0856 (vs. estimate at 7.1029)Japan PM Takaichi: Want to realise a new golden age of Japan-US alliance with TrumpUSD/JPY below 152.50: Trump/Takaichi meeting ahead, economy minister verbal interventionUK shop prices fall for first time since March as food inflation coolsJapan's eco min says its important for FX moves to reflect fundamentals, be stableAustralian Federal Police have raided WiseTech - investigating alleged insider tradingSouth Korea Q3 GDP +1.2% q/q (vs. expected +0.9%)Sterling vulnerable if BOE cuts rates in December, MUFG saysComing up today - Trump meets Japan’s Takaichi to deepen defence, trade cooperationChina (PBOC) reaffirms crypto ban, accelerates digital yuan rolloutBeijing and Berlin play down diplomatic rift after German minister cancels China tripSouth Korean October consumer sentiment index drops to 109.8 (prior 110.1)Morgan Stanley notes US dollar comeback but warns of fragile rallyICYMI - Bessent has named five finalists for Fed chairFOMO trading continue in the stocks with new records for the 3 major indicesinvestingLive Americas market news wrap: US stock markets rip to fresh recordsFrom Japan today, there were a couple of notable developments. President Trump and Prime Minister Sanae Takaichi signed a framework agreement to secure the supply of critical minerals and rare earths — a widely expected step. The two appeared to get along well, with one Japanese media outlet noting that “Japan PM Takaichi lavishes praise on Trump in first meeting.”Earlier, Economy Minister Kiuchi made yen-supportive remarks — a touch of verbal intervention in familiar form. The yen strengthened on the session, with USD/JPY touching lows around 152.30 before steadying.Elsewhere, major FX traded in subdued ranges, with a hint of strength in EUR and GBP. Data from South Korea showed the economy grew 1.2% in the third quarter, exceeding expectations as construction and exports stabilised and fiscal stimulus underpinned activity. Analysts said the momentum looks set to continue into 2026, though much now depends on resolving a $350 billion trade deal with Washington. Asia-Pac stocks:Japan (Nikkei 225) -0.18%Hong Kong (Hang Seng) -0.28%Shanghai Composite -0.1%Australia (S&P/ASX 200) -0.44% This article was written by Eamonn Sheridan at investinglive.com.

U.S./China relations are likely to remain locked in a recurring pattern of confrontation and compromise, according to Nomura’s Chief China Economist Lu Ting.Lu said the world’s two largest economies appear to be settling into a “tension–escalation–truce” cycle that will define their relationship for the foreseeable future. Recent trade talks in Kuala Lumpur suggested a temporary easing in friction, with both sides reportedly considering modest concessions such as extending tariff truces and resuming Chinese purchases of U.S. soybeans.However, deep-seated disagreements — including rare earth export controls, compliance with trade commitments, and broader geopolitical disputes — continue to cloud the outlook. Lu warned that while short-term cooperation is possible due to economic interdependence, strategic rivalry between Washington and Beijing is set to intensify over time.The cyclical nature of tension and détente may well become the new normal in U.S./China relations ---Nomura’s outlook suggests persistent volatility for markets sensitive to U.S./China trade developments, particularly in commodities and tech sectors. Investors may see recurring bursts of optimism followed by renewed tensions as the two powers alternate between compromise and confrontation. This article was written by Eamonn Sheridan at investinglive.com.

Trump and Japanese Prime Minister Takaichi sign on framework for securing the supply of critical minerals and rare earths.This was flagged as to happen today, and here it is. White House statement:US and Japan plan to use economic policy tools and coordinated investment to accelerate the development of diversified, liquid, and fair markets for critical minerals and rare earthsEarlier:Japan PM Takaichi: Want to realise a new golden age of Japan-US alliance with Trump This article was written by Eamonn Sheridan at investinglive.com.

Japan PM Takaichi:Was enjoying watching Major League Baseball match with President TrumpTo Trump: Thank you for enduring friendship with late PM Shinzo AbeTrump contributed to Asia’s peace including Thai-Cambodia dealMiddle East deal was unprecedented histrical achievementI highly value your commitment to world peace and stabilityReady to promote further collaboration with us to achieve free and open Indo-PacificWill continue to strive as leader of Japan to strengthen Japan’s national power including defence capabilitiesWant to realise a new golden age of Japan-US alliance with Trump Trump is loving it:Recalls Japan former Prime Minister Abe as “a great friend of mine”Appreciated Japan order for military equipmentWe are signing a new deal and it is a fair dealThis will be relationship that will be stronger than ever beforeLook forward to working with Takaichi on behalf of our country---Takaichi, Trump are expected to sign a joint document on securing rare earth minerals, Asahi reports:finalizing a joint agreement securing rare earths and other critical minerals, and reinforcing supply chainsexpected to be signed later in the day This article was written by Eamonn Sheridan at investinglive.com.

JPY is getting a bit of a tailwind from the meeting coming up between Trump and Japan PM Takaichi. Coming up today - Trump meets Japan’s Takaichi to deepen defence, trade cooperationTakaichi has already begun ingratiating herself:Japan PM Takaichi making final arrangements to recommend Trump for Nobel Peace Prize.Hoping for a good outcome for Japan from the talks. In addition, some mild verbal intervention:Japan's eco min says its important for FX moves to reflect fundamentals, be stable This article was written by Eamonn Sheridan at investinglive.com.

British retailers cut prices in October for the first time since March, led by the steepest fall in food costs in nearly five years, according to the British Retail Consortium (BRC).Shop prices declined 0.3% from September, while food prices dropped 0.4%, the biggest monthly fall since December 2020. On an annual basis, overall shop prices were 1.0% higher than a year earlier, easing from a 1.4% rise in September, marking the first slowdown in the annual pace of price increases since June.Food inflation cooled to 3.7% year-on-year from 4.2%, though fresh food costs continued to rise. The Bank of England, which closely watches food prices due to their influence on public inflation expectations, may take some comfort from the data following official figures last week showing headline inflation steady at 3.8%.BRC Chief Executive Helen Dickinson attributed the decline to fierce retail competition, heavy discounting, and a drop in global sugar prices, which lowered costs for chocolate and confectionery ahead of Halloween. Retailers also began early promotions on electronics and beauty products in the run-up to Black Friday.Dickinson urged Finance Minister Rachel Reeves not to raise taxes on the retail sector in the November 26 budget, warning that additional costs “would inevitably keep inflation higher for longer.” Reeves has said her fiscal plan will aim to reduce the cost of living.---The first decline in UK shop prices since March may strengthen the case for a December Bank of England rate cut, supporting expectations that inflation pressures are easing. Sterling could face modest headwinds as traders price in a more dovish policy outlook. ---Earlier:Sterling vulnerable if BOE cuts rates in December, MUFG says This article was written by Eamonn Sheridan at investinglive.com.

Australian Federal Police and the corporate watchdog, ASIC, have raided WiseTech’s headquarters part of an investigation involving alleged insider tradingWiseTech Global is a firm focused on software solutions re logisitcs.A company statement said ASIC and the AFP executed a search warrant requiring the production of documents regarding alleged trading in WiseTech shares by co-founder Richard White and three WiseTech employees during the period from late 2024 to early 2025"So far as it is aware, no charges have been laid against any person and there are no allegations against the company itself," WiseTech said This article was written by Eamonn Sheridan at investinglive.com.

South Korea Q3 2025 GDP, this is the preliminary reading. +1.2% q/q, fastest pace in a year and a halfexpected +0.9%, prior +0.7%strong exports, +1.5% q/q (but down from +4.5% in Q2)solid private consumption (government's supplementary budget and cash subsidies helped)+1.7% y/yexpected +1.5%, prior +0.6%The data comes from South Korea's central bank, the Bank of Korea. The bank also provides data for:private consumption during the quarter +1.3% q/qconstruction investment -0.1% q/qfacility investment +2.4% q/q This article was written by Eamonn Sheridan at investinglive.com.

U.S. President Donald Trump will meet Japanese Prime Minister Sanae Takaichi in Tokyo on Tuesday, marking their first face-to-face talks since her election earlier this month. info via Reuters, my summary. According to a source familiar with the plans, the two countries are set to sign a memorandum of understanding on shipbuilding investment as part of a broader effort to deepen economic and security cooperation.Takaichi is expected to reassure Trump that Japan will accelerate its defence expansion. Japan hosts the biggest concentration of U.S. military forces abroad, but Trump has repeatedly argued that Tokyo should spend more to defend itself against China’s growing military presence.While Takaichi has pledged to raise defence spending to 2% of GDP, political constraints at home may limit her ability to go beyond that target. Her ruling coalition lacks a parliamentary majority, making it difficult to deliver the larger commitments Trump is reportedly seeking.Trump will travel to South Korea on Wednesday for talks with President Lee Jae Myung, followed by a meeting with China’s Xi Jinping on Thursday. ---The Tokyo meeting underscores strengthening U.S.–Japan security ties but could heighten tensions with China ahead of Trump’s expected meeting with Xi. Defence and shipbuilding sectors may see renewed investor focus amid regional rearmament themes and industrial policy alignment. This article was written by Eamonn Sheridan at investinglive.com.

China and Germany sought to cool talk of rising friction on Monday after German Foreign Minister Johann Wadephul abruptly postponed what would have been his first official visit to Beijing. Info comes via Reuters reporting.trip, planned as the first by a minister in Chancellor Friedrich Merz’s government, was cancelled at the last minute after China agreed to only one of Wadephul’s requested meetingsfollowed weeks of tension over Chinese export curbs on semiconductors and rare earths, as well as Berlin’s criticism of Beijing’s support for Russia and its actions in the Indo-Pacific.A German government spokesperson said Berlin still wanted “respectful and good exchange” with China and did not see the postponement as altering policy direction. China’s foreign ministry called for both countries to continue developing ties “from a strategic and long-term perspective,” noting that both economies have been hit hard by U.S. tariffs. Business groups warn that further escalation would hurt Germany’s already fragile economy and strain trade relations that topped US$200 billion last year. This article was written by Eamonn Sheridan at investinglive.com.

South Korean October consumer sentiment index drops to 109.8 September was 110.1As part of the survey is an assessment of inflation expectations. 12 month media expectations jumpt o 2.6% in Octoberprior 2.5%---Bank of Korea (SK's central bank) data. This article was written by Eamonn Sheridan at investinglive.com.

OPEC+ leaning to another modest output increase at Sunday's meetingDallas Fed October manufacturing general business activity -5.0 vs -8.7 priorMexico says US extending trade deadline for several weeksAmazon may cut 30,000 corporate jobs, starting TuesdayCategory 5 hurricane expected to hit Jamaica tomorrowZelensky says Russian oil refineries will pay an even-higher price for warUS treasury auctions $70B of 5 year at a high yield of 3.625%U.S. Treasury sells $69 billion of 2-year notes at a high yield of 3.504%Markets:S&P 500 up 1.2%Nasdaq up 1.9%WTI crude oil down 15-cents to $61.35US 10-year yields down 1 bps to 3.98%Gold down $120 to $3990Gold fell below $4000 for the first time since October 12 as the profit taking took it down to the 38.2% retracement of the rally since August. In contrast, the Nasdaq broke out for the second day as the many rumors of a US-China trade deal were confirmed.It was one-way traffic in both trades with US stocks finishing the day at the highs and gold on track to finish below $4000. Over in FX it was much quieter with changes limited to a quarter-cent aside from a small bid in AUD on the better China trade developments. Even the Canadian dollar managed to eek out a small gain despite Trump's fresh tariff threat.I spoke to Reuters about the move:"I just think the tariff threat has lost its teeth and it couldn't be any more clear than it was in the Canadian dollar trade today, as the market has collectively shrugged off the threat almost completely," said Adam Button, chief currency analyst at investingLive.It's a busy week for corporate earnings and there is minimal talk of the end of the US government shutdown so there won't be much economic data. This article was written by Adam Button at investinglive.com.

KRW traders might like to take note of the data agenda, with the preliminary reading for Q3 GDP due. Otherwise it's a quiet calendar for the session ahead.This snapshot from the investingLive economic data calendar.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected. This article was written by Eamonn Sheridan at investinglive.com.

It's a big week for US corporate earnings but the rest of the week features some of the bigger names, including on Wednesday with Microsoft, Apple and Meta followed by Apple and Amazon on Thursday.There are some solid economic barometers today though,Welltower Inc. (WELL) — EPS Est: 0.53 — Market Cap: $121.35 BCadence Design Systems, Inc. (CDNS) — EPS Est: 1.79 — Market Cap: $95.73 BWaste Management, Inc. (WM) — EPS Est: 2.01 — Market Cap: $86.1 BNXP Semiconductors N.V. (NXPI) — EPS Est: 3.12 — Market Cap: $55.86 BThe Hartford Insurance Group, Inc. (HIG) — EPS Est: 3.21 — Market Cap: $35.04 BCelestica Inc. (CLS) — EPS Est: 1.49 — Market Cap: $34.88 BNucor Corporation (NUE) — EPS Est: 2.16 — Market Cap: $33.13 BArch Capital Group Ltd. (ACGL) — EPS Est: 2.25 — Market Cap: $32.06 BBrown & Brown, Inc. (BRO) — EPS Est: 0.93 — Market Cap: $28.99 BCincinnati Financial Corporation (CINF) — EPS Est: 2.06 — Market Cap: $24.69 BFTAI Aviation Ltd. (FTAI) — EPS Est: 1.20 — Market Cap: $19.07 BPrincipal Financial Group, Inc. (PFG) — EPS Est: 2.20 — Market Cap: $17.81 BF5, Inc. (FFIV) — EPS Est: 3.97 — Market Cap: $16.78 BUniversal Health Services, Inc. (UHS) — EPS Est: 4.95 — Market Cap: $13.51 BAlexandria Real Estate Equities, Inc. (ARE) — EPS Est: 0.39 — Market Cap: $13.22 BRambus Inc. (RMBS) — EPS Est: 0.51 — Market Cap: $12.09 BWhirlpool (WHR) - EPS Est. 1.23 -- Market cap $4.1 BOn the macro side, I'm watching a few names for a view into economic sentiment. Waste Management is a classic macro barometer as it's leveraged to manufacturing and building activity. Nucor is the largest steelmaker in the US and will have views on activity and the impact of tariffs. Whirlpool is a smaller company but appliance sales are a classic barometer of economic activity and confidence.In terms of market sentiment and the Nasdaq, keep an eye on NXP Semiconductors (which is also heavily exposed to autos) and Cadence Design Systems, which provides software for semiconductor design. This article was written by Adam Button at investinglive.com.