Euro Area ECB Panetta Speech

Canada Raw Materials Prices YoY

Canada PPI MoM

Canada Raw Materials Prices MoM

The Turkish lira approached 50 per US dollar in October 2026, hitting a fresh record low as authorities maintained a controlled pace of depreciation while intervening in foreign exchange markets to prevent a sharper decline. The lira remains exposed to carry-trade positioning, with investors borrowing in lower-yielding currencies to invest in Turkish assets offering higher returns. At its October meeting, the Central Bank of Turkey cut its benchmark interest rate by 100 basis points to 36%, as expected, marking its first rate cut since the war with Iran began. The decision followed a further easing in inflation, which slowed to 29.73% in September, its lowest level in nearly five years.. The easing cycle is expected to continue into 2027, with the policy rate forecast to fall to 28% by year-end. Meanwhile, the investment fund sector faced a crisis last month after regulators ordered the liquidation of 131 funds, following concerns over asset managers reporting unusually high returns.

Turkish Lira Hits New Low

US 10 Year Government Bond Yield decreased to 5.03%, the lowest since September 2026. Over the past 4 weeks, US 10 Year Note Bond Yield lost 7.00 basis points, and in the last 12 months, it increased 104.10 basis points.

US 10Y Bond Yield Hits 4-week Low

Gold decreased to 4066.00 USD/t.oz, the lowest since August 2026. Over the past 4 weeks, Gold lost 5.07%, and in the last 12 months, it decreased 1.36%.

Gold Hits 11-week Low

The UK 10-year gilt yield slipped below 5.4% as concerns over social unrest and rising debt across the eurozone prompted investors to shift away from regional assets, boosting demand for UK government bonds and sterling. Meanwhile, investors continued to weigh stronger-than-expected inflation and mounting public borrowing ahead of next week’s budget and the Bank of England’s November 5 policy meeting. UK inflation rose to 3.5% in September, exceeding forecasts, while core and services inflation also surprised to the upside. Markets now expect at least three quarter-point rate hikes by April 2027, with the first potentially coming in November. Meanwhile, public borrowing reached £24.5 billion, bringing April–September borrowing to £97.8 billion, £6 billion above the OBR’s projection. Despite the worsening fiscal outlook, some major investors expect the upcoming budget to prioritize fiscal discipline, a move that could help sustain demand for gilts.

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