Research Analyst
Oil prices were steady after OPEC+ announced a pause in production increases next year, as worries over a potential supply glut and weak Asian factory data weighed on sentiment. Brent crude traded at $64.76 per barrel and WTI at $60.96. Despite the decision to halt hikes, both benchmarks fell over 2% in October, with analysts warning that the expected global surplus remains unchanged.
Canada’s Manufacturing Decline Eases in October
Canada’s manufacturing slowdown softened in October as output and new orders steadied. The S&P Global Manufacturing PMI rose to 49.6 from 47.7 in September, its highest since January. Although the sector remained in contraction, business sentiment improved to a nine-month high amid hopes for future growth. Trade uncertainty and tariffs, however, continued to weigh on costs and outlook.
Germany’s Manufacturing Recovery Stalls in October
Germany’s manufacturing sector showed minimal progress in October, with the PMI inching up to 49.6, still below growth territory. Output and new orders rose slightly, but export demand stayed weak, especially from Asia and the U.S. Rising output prices, falling input costs, and continued job losses reflected subdued activity, while business confidence dropped to its lowest in nearly a year amid weak demand and cost pressures
Zimbabwe Inflation Set to Halve by 2025 on Strong Currency, Gold Support
Zimbabwe’s annual inflation is projected to fall to 15–20% by end-2025, down from 32.7% in October, as the gold-backed ZiG currency remains stable and gold prices stay high, according to the Confederation of Zimbabwe Industries. Analysts expect rising gold output and steady currency performance to help restore economic confidence after years of instability.
Nigeria’s Bonds Dip on Trump Threat, Market Holds
Nigeria’s sovereign bonds fell slightly after former U.S. President Donald Trump threatened military action over attacks on Christians but quickly recovered. The government welcomed international assistance against insurgents while protecting its sovereignty.
Investor confidence remains strong, supported by economic reforms and rising equities, with limited impact expected from potential unrest in northern regions.
