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International financial news

[Xinhua News Agency: China-US high-level economic and trade consultations between the two leaders to talk]
On the evening of October 25, Liu Heying, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, spoke to US Trade Representative Wright Heze and Finance Minister Mnuchin. The two sides agreed to properly resolve their core concerns and confirmed that the technical consultations on some of the texts were basically completed. The two sides confirmed that they have reached a consensus on the US regulatory system for importing Chinese-made cooked poultry and squid products and the Chinese ban on the export of American poultry meat to China and the application of public health information systems for meat products. The leaders of the two sides will call again soon, during which the working level will continue to hold consultations. Minister of Commerce Zhong Shan, Governor of the People's Bank of China Yi Gang, and Deputy Director of the National Development and Reform Commission Ning Jinzhen attended the call. 

[Johnson calls for a general election, the EU chooses to wait and see]
On October 25th, the EU agreed in principle to the London proposal to postpone the "Brexit", but did not set a new Brexit date to "wait and see" the political changes in Britain. British Prime Minister Johnson announced that he will move a motion to the parliament to advance the election on December 12, emphasizing that this is the only option to end the Brexit "nightmare".

[Russian oil company export contract is no longer using US dollar settlement]
According to the Russian mainstream economic news agency, Russia’s largest oil company, Russian oil company, said that its export contract no longer uses US dollars, but instead uses euro settlement.

[The main reason for the transfer of Russian oil company export contracts to the euro may be due to US sanctions]
Experts say that the main reason for the transfer of Russian oil company export contracts to the euro may be to worry about US sanctions, but also to reduce the trading risks of European countries that purchase oil. The analysis believes that although it is difficult for Russian oil companies to achieve high returns through exchange differences, in the long run, this measure will achieve significant results. This will prompt other Russian oil exporters to settle from the US dollar settlement to the euro, the renminbi or even other currencies.

[The White House wants to cancel the subscription to The New York Times and The Washington Post]

US White House press secretary Stephanie Grisham confirmed that in order to save administrative expenses, the White House intends to require all federal agencies to no longer subscribe to the paper editions of The New York Times and The Washington Post.



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