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MNI BRIEF: Investors Increasingly Eyeing Fiscal Policy -ECB VP

CANADA OCT FLASH RETAIL SALES +0.8%

MNI China Daily Summary: Friday, Nov 24

EZ/UK Bond Supply Calendar: EU-Bond Auct / BOE APF Op Monday

MNI: US NOV FLASH SERVICES PMI 50.8 (FCST 50.4); OCT 50.6

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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Lowest Since Late August

IRON ORE
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SGX Iron Ore Futures were pressured on Monday extending falls seen during China's Golden week.

  • The November contract fell ~4% yesterday and finished ~7% below the high from 2 Oct closing at $110.50/tonne.
  • China Home Sales fell ~17% during the Golden Week Holiday compared with a year prior with the tepid data scoring continuing fragility in the property sector. More here .
  • Rio Tinto, the world's second largest Iron Ore producer, left its shipping guidance for 2023 unchanged, but noted that the shipments will include 45-50mn tonnes of lower grade Iron Ore. More here .
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SGX Iron Ore Futures were pressured on Monday extending falls seen during China's Golden week.

  • The November contract fell ~4% yesterday and finished ~7% below the high from 2 Oct closing at $110.50/tonne.
  • China Home Sales fell ~17% during the Golden Week Holiday compared with a year prior with the tepid data scoring continuing fragility in the property sector. More here .
  • Rio Tinto, the world's second largest Iron Ore producer, left its shipping guidance for 2023 unchanged, but noted that the shipments will include 45-50mn tonnes of lower grade Iron Ore. More here .