Updated: Morning Briefing on Upcoming Events and What to Expect

Today there are no major economic events that could significantly impact the markets. However, attention tomorrow will shift to Germany, where important business indicators will be released — business expectations, current assessment, and the Ifo business climate index. These data provide a solid overview of sentiment in Europe’s largest economy.

In addition, several speeches from ECB officials are expected throughout the day, including Elderson, Lagarde, and Nagel, which may influence expectations for the central bank’s future policy.

From the U.S., monthly and annual industrial production data will be released, offering insight into the state of the industrial sector. The day ends with a 2-year U.S. bond auction, which may affect short-term interest rates.

Link to the full calendar here:
https://calendar.varchevbrokers.com/calendar.php?lang=bg

Top 5 things to know before European markets open

• Asian stocks rose, led by Hong Kong. U.S. and European equity futures also climbed. Bitcoin is trading near $87,000 — well above Friday’s levels. Japan remains closed due to a holiday.
• Tech stocks in Hong Kong gained after Alibaba announced that its Qwen app was downloaded more than 10 million times just a week after its revamped launch. Meanwhile, U.S. officials are holding preliminary talks on whether to allow Nvidia to sell its H200 AI chips to China, according to sources familiar with the matter.
• BHP Group has called off its attempt to acquire Anglo American. BHP shares rose as much as 1.3% in Sydney on Monday before giving back most of the gains.
• President Trump’s proposed November 27 deadline for securing Ukraine’s support for a U.S.-backed peace plan is not final and may be pushed into next week, said Secretary of State Marco Rubio.
• Italy received its first credit rating upgrade from Moody’s in more than 23 years. The lowest rating among G-7 countries was raised one notch to Baa2, with a now-stable outlook.

European markets expected to open in the green

European stocks are set to start the new week on positive ground, following the global market rally as hopes for a December rate cut by the Federal Reserve continue to build.

According to IG, the FTSE is expected to open 0.55% higher, the German DAX up 0.8%, France’s CAC 40 up 0.76%, and Italy’s FTSE MIB up 0.72%.

Asia-Pacific markets and U.S. index futures climbed on Sunday evening as investors attempted to build on Friday’s strong rebound after the New York Fed President left the door open for a December rate cut.

The next Fed meeting will be held on December 9–10, and markets currently price in a 69.3% probability of a 25 bps cut, according to CME FedWatch.

Global markets have seen highly volatile weeks as investors begin to question the lofty valuations of AI-related companies that have driven much of the market’s 2025 rally.

There are no major macroeconomic releases or earnings reports in Europe on Monday, but U.K. investors are preparing for Wednesday’s Autumn Budget, with speculation rising over the scale of potential tax increases that Finance Minister Rachel Reeves may introduce to balance the budget.

Investors in the region are also monitoring U.S.–Ukraine talks as they work toward a peace plan, after the initial 28-point proposal was viewed as largely pro-Kremlin and requiring significant concessions from Kyiv.

On Sunday, the U.S. said progress was made over the weekend in talks involving Secretary of State Marco Rubio, but no agreement has been reached regarding Ukraine’s security guarantees.

Forex options expiring today

No significant expiries to note for the day; the full list is shown below.

Because of this, trading sentiment will continue to revolve mainly around the overall risk mood.
In currencies, attention remains on the Japanese yen after last week’s continued selling, as well as on AUD/USD, since the pair is sitting at the edge of the main consolidation range around 0.6420–0.6600 that has held since June.

If there is a stronger selloff in risk assets, there is a risk of a downside breakout, which will be something to watch closely.