⬆️🛢️ European gas prices have climbed to their highest level since December 2022.

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🇨🇳 China plans to allow more foreign brokers to operate in its domestic foreign exchange market, Xinhua reports.

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⚠️🇺🇸 The Federal Reserve is wary of repeating the 1970s, when a brief lull in inflation gave way to another surge. Iran understands these dynamics well.

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🇩🇪 As part of its restructuring plan, Volkswagen is reportedly planning to freeze pay for 660,000 employees through 2030, the Süddeutsche Zeitung reports.

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📰 The European Commission has ruled out a U.S. proposal to resume Russian gas imports as part of talks on a ceasefire in Ukraine. Spokesperson Paula Pinho said at a briefing in Brussels, according to TASS, that the EU has no plans to lift sanctions on Russia until the conflict is fully resolved.

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⚠️🇪🇺🇺🇦 The European Commission expects partner countries to provide €25 billion in 2027 to support Kyiv, EC spokesperson Balazs Ujvari said. He put the total funding needed to sustain the military conflict that year at €70 billion.

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🇺🇦🇺🇸 Ukrainian President Volodymyr Zelensky blames the current tension with former U.S. President Donald Trump on the election campaign, and hopes relations will improve after the November 3 midterms, BBG reports. Experts point out that Zelensky has publicly confronted Trump, who is known to hold a grudge. The NYT, FT and Le Figaro suggest the relationship between the two leaders may be beyond repair.

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💥 Goldman Sachs has raised its rating on CoreWeave to "BUY," sending the stock up 6%.

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✴️ MicroStrategy has added 267 BTC to its holdings, bringing its total to 848,517 BTC. CEO Michael Saylor says he’s confident a bull market is underway and expects Bitcoin to top $100,000 soon.

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✴️ Strive, co-founded by Vivek Ramaswamy, who previously worked with Musk at the Department of Government Efficiency, bought 1,233 BTC last week, bringing its total holdings to 36,818 BTC.

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💥 Trump’s decision to hold off on new sanctions against Russia has made it easier for India to buy Russian oil and improved the prospects of a trade deal with the US, Reuters reports.

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📰 Coming up: Canada’s September CPI report will be released at 15:30 Moscow time.

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📈 Canada’s CPI rose 0.1% in September, below the 0.2% forecast but up from -0.1% the month before. Annual inflation climbed to 3.1%, just under expectations of 3.2% and above the previous 3.0%. Core CPI increased 2.2%, missing the 2.4% forecast and easing from 2.4%.

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🇺🇸 Former Trump economic adviser Hassett is back with his usual pre-market remarks, insisting the U.S. economy has never been stronger.

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⚠️ Kim Jong Un’s sister has warned that North Korea may deploy more weapons along the border with South Korea, ABC News reports.

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🇦🇪🇺🇿 VEON plans to acquire the Uzbek mobile operator Perfectum in full for $207 million, according to Interfax.

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⚠️🧠 JPMorgan CEO Jamie Dimon is urging leaders to strengthen banks’ cyber defenses against AI-driven threats.

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🇷🇺🇮🇷 Lavrov and Araghchi have begun talks in Tehran. Sepah News reports that a private business jet from the UAE landed in the city at the same time as Lavrov.

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🔍 European stocks fell today even as markets elsewhere around the world climbed. Media reports point to Macron as the cause of the decline, while he blames Russia.

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📉 The Moscow Exchange will be closed on October 24–25. Read the announcement for more details.

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🇺🇦 Ukrainian President Volodymyr Zelensky says Starlink restrictions on Ukraine’s armed forces are still in place.

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