United States Fed Bowman Speech

South Korea’s seasonally adjusted unemployment rate fell to 2.5% in October 2026 from 2.6% in the previous month, reaching its lowest level since September 2024. The economy added 139,000 jobs, up from 113,000 in September, marking the fourth consecutive month of employment gains exceeding 100,000 and bringing total employment to 29.18 million. The healthcare and social welfare sector led job creation, adding 249,000 workers, followed by transportation and storage (+48,000) and business facilities management and support services (+37,000). In contrast, accommodation and food services employment fell by 137,000, while agriculture, forestry and fishing (-101,000) and construction (-42,000) also recorded declines. Manufacturing employment slipped by 7,000, reversing the previous month's increase. Meanwhile, the number of unemployed people declined by 56,000 year-on-year to 602,000, while the employment rate for those aged 15 to 64 rose by 0.3 percentage points to 70.4%.

South Korea Unemployment Rate Lowest in 13 Months

The Reuters Tankan index for Japanese manufacturers rose for the fourth consecutive month to +27 in November 2026, from +22 in the previous month, marking its highest reading since August 2021, supported by continued strength in semiconductor and data center demand. Meanwhile, non-manufacturers’ sentiment increased to +35, the highest since June 2018, from +23, which was the lowest reading since November 2024, reflecting a sharp rebound in confidence in the service and domestic sectors.

Japan Manufacturers' Mood Highest in Near 5 Years

US crude oil inventories rose by 9.0 million barrels in the week ended November 6, defying market forecasts for a 1 million-barrel decline and reversing a 5.267 million-barrel drop in the previous week. Meanwhile, gasoline inventories increased by just 4,000 barrels, slowing sharply from a 1.427 million-barrel build previously, while distillate stocks rose by 1.5 million barrels after falling by 270,000 barrels in the prior week. At Cushing, inventories increased by 182,000 barrels, following a 511,000-barrel build in the previous week. Separately, 2.7 million barrels of crude were released from the Strategic Petroleum Reserve (SPR) to support commercial inventories, bringing total SPR stocks down to 279.5 million barrels. US crude oil production reached a record 14.003 million barrels per day in the week ended October 30, up from 13.992 million bpd a week earlier.

US Crude Inventories Surge Unexpectedly

The NZX 50 shed 70 points, or 0.5%, to 14,097 in Wednesday morning trade, halting the previous session's gains as traders took profit after the index hit a record high the day before. The broader index followed a decline on Wall Street overnight as inflation came in hotter than expected. Traders continued to monitor coalition talks, while Labour market leaders identified National's Simeon Brown and Labour's Barbara Edmonds as the leading candidates for Finance Minister. The names emerged after current Finance Minister Nicola Willis failed to secure a seat in Parliament. Meanwhile, easing oil prices limited the decline as inflation concerns and expectations of interest rate hikes eased. Financials, real estate, and industrials mainly weighed on the index, with early losers including Fletcher Building (-2.0%), Infratil (-1.6%), Westpac Banking Corp. (-1.3%), Auckland International Airport (-0.9%), and Summerset Group (-0.9%).

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South Korea Unemployment Rate Lowest in 13 Months

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United States Fed Bowman Speech