Daily Market Insight

• Blue sweep of Congress sets the stage for divided U.S. government • US private-sector employment remained solid • Eurozone inflation rose to its highest level in more than three years • China’s services sector shown moderated growth in September • S&P maintains Thailand’s stable outlook despite fiscal and growth headwinds • Dollar struggled despite blue sweep and firm U.S. labor data

• U.S. JOLTS remained broadly stable in September • US midterm elections inject uncertainty, with a possible Democratic sweep seen • Australia hikes cash rate for fifth time this year, highest level since 2008 • Thailand approved CBU EVs excise tax to 35% to encourage investment • Thailand plans to accelerate cleaner vehicle adoption through an old-for-new scheme • Dollar steadies ahead of U.S. midterm elections

• ISM manufacturing accelerates despite moderating input-cost pressures • Euro area manufacturing expansion moderates, but price pressures remain uncomfortably strong • China’s private manufacturing PMI slips to 52.0, signaling softer fourth-quarter momentum • Korean exports nearly double as AI demand overwhelms calendar noise

• US Chicago PMI falls below expectations, signaling slower business expansion • Eurozone growth beats expectations despite higher energy costs • German growth beats forecasts while inflation falls below expectations • BOJ delivers hawkish hold as inflation reaches target • Thailand’s current account swings to deficit as imports surge

• U.S. inflation pressures continued to moderate despite some mixed signals • U.S. Q3 GDP increases better-than-expected • U.S. Initial Jobless Claims drop to lowest level in months • ECB kept rates steady but points to mounting inflation risk • Euro-area economic sentiment softened for a second consecutive month in October • Strong Japan macro data keeping pressure on BOJ’s decision to tighten further • Dollar slipped after strong US data; Yen held steady ahead of BoJ’s meeting

• Fed held rates steady despite sticky inflation but keeps door open to further tightening • Bank of Canada raised the policy rate as market expected; another hike possible • Reserve Bank of New Zealand held the rate unchanged despite hawkish stance • MPC maintained the key rate as uneven growth amid rising inflation risks • Thailand overhauls its oil pricing structure, lowering ex-refinery prices • A less-hawkish Fed weighed on dollar, while sticky inflation kept upward pressure on long-term U.S. yields

• U.S. weekly job creation cooling in early October • U.S. confidence rebounds, but expectations stay below recession threshold • U.S. house price indices showed continuing gain in August • Australia inflation strengthens, fueling fears of fifth interest rate hike this year • Korea’s GDP Q3 growth beat expectation, propelled by high-tech activities • Dollar volatile, gold struggling, treasury yields edged lower ahead of Fed decision; Iran diplomacy hopes in focus

• Oil retreats from six-month highs, but geopolitical supply risks keep inflation concerns elevated • US activity returns above trend, supporting a firm dollar and limiting the case for near-term easing • German confidence beats expectations, offering near-term support to the euro • Thailand’s import surge overshadows robust export growth, driving a sharp trade deficit

• Trump prepares for potential Iran escalation after US and Israeli elections • Trump targets mortgage insurance and refinancing costs to ease housing burden • US consumer confidence weakens even as business activity remains strong • French unrest introduces a new fiscal and confidence shock for Europe • Euro area growth loses momentum as France contracts

• UK producer price pressures intensified in September • UK inflation surprises to the upside, reinforcing expectations that the BoE may resume tightening in November • Japan’s export growth stays robust, supported by chips and cars • China defended its rare-earth export controls on Japan • Indonesia's central bank keeps key rate unchanged, delivering policy mixed • Dollar held near 3-week low ahead of next week’s Fed meeting