Japan Consumer Confidence

Italy Unemployment Rate

United Kingdom M4 Money Supply MoM

United Kingdom BoE Consumer Credit

Malaysian palm oil futures fell over 1.5% to near MYR 4,600 per tonne, extending recent losses and hitting their lowest since mid-October. A stronger ringgit weighed on sentiment, alongside weaker Dalian palm oils and Chicago soyoils. Meanwhile, crude oil prices retreated amid renewed Middle East diplomatic efforts, reducing palm oil’s appeal as a biodiesel feedstock. Record-high Malaysian inventories added pressure, while caution grew ahead of China’s official PMI data in the key consuming market. Separately, EU palm oil imports for the 2026/27 season, which began in July, fell 21% yoy to 0.8 million tonnes. Still, expectations of tighter supplies next year due to El Niño-related weather risks and stronger domestic biodiesel demand in top producer Indonesia offered some support. Export demand also stayed firm, with cargo surveyors reporting a 46.9%–67.7% surge in shipments during October 1–25 from the same period in September, partly driven by pre-Diwali buying in top consumer India.

Palm Oil Slips to 2-Week Low as Bearish Factors Mount

Japan’s 10-year government bond yield steadied around 2.83% on Thursday as investors awaited the Bank of Japan’s upcoming policy announcement. The central bank is widely expected to leave interest rates unchanged, although policymakers may signal a potential rate hike in December amid persistent inflationary pressures. Investors are also monitoring key domestic economic releases, including unemployment, industrial production, retail sales, and Tokyo’s inflation data, ahead of the BOJ decision. Meanwhile, global asset managers are returning to Japan’s bond market as signs of strengthening domestic demand and a more favorable policy environment enhance the appeal of relatively high yields. This marks a shift from earlier in the year, when elevated yields alone were insufficient to offset concerns that the BOJ was tightening monetary policy too gradually, increased fiscal spending would expand government bond supply, and traditional domestic investors remained largely on the sidelines.

Japan 10Y Yield Steadies Ahead of BOJ Decision

Singapore’s Domestic Supply Price Index surged 48% year-on-year in September 2026, accelerating from a 38.8% gain in August and hitting a new all-time high. Prices increased at a faster pace for mineral fuels, lubricants, and related materials (78.9% vs 57.4% in August), machinery and transport equipment (55.5% vs 47.7%), and chemicals and chemical products (17.0% vs 13.8%). Offsetting the top-line spike, cost pressures moderated for miscellaneous manufactured articles (5.3% vs 5.8%), manufactured goods (4.6% vs 4.9%), beverages and tobacco (3.7% vs 4.3%), animal and vegetable oils, fats, and waxes (3.7% vs 4.3%), and crude materials (18.2% vs 20.2%). Moreover, food and live animals saw deflation deepen (-2.0% vs -1.4%). On a monthly basis, domestic supply prices climbed 7.3% in September, picking up from August's 4.1%.

Singapore Producer Inflation Hits New Record High

European natural gas prices eased to €98 per megawatt-hour on Thursday after reaching €100 in the previous session, the highest level since December 2022. The recent rally has been driven by rising heating demand, low gas reserves in Europe, and concerns about a renewed escalation in the Middle East conflict. Prices have more than tripled since the outbreak of the war, as disruptions to shipments through the Strait of Hormuz halted LNG deliveries from several sources, primarily Qatar. This has left the region scrambling for alternatives and hampered efforts to refill storage over the summer. European gas storage facilities were about 75% full as of October 28, significantly below historical levels. Meanwhile, forecasts of colder weather across northwestern Europe in the coming days could boost heating demand, while potential cold snaps in parts of Asia may further intensify competition for available cargoes.

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