Good morning Asia. Here’s what you need to know:
- Friday, U.S. markets closed higher, with the NASDAQ up a notable 0.77%. The jobs report showed a decrease in public sector jobs that outweighed the increase in private sector employment.
- Australian home loans data is released at 8:30 AM ET. The country may be in the midst of a housing bubble, and the consensus is for a 1% month-over-month increase in loans. Here’s a breakdown of why Australia may be in a housing bubble >
- French industrial production data is released at 2:45 AM ET. The projection is for 0.3% month-over-month growth. Italian industrial production data is released at 4:00 AM ET, and that is projected to slow by 0.3% month-over-month. Here’s why it may be time to be bullish on Europe >
- The IMF’s key members failed to come to an agreement to halt the ongoing global currency war. The result will likely mean a continuation of competitive devaluations, and an increase in tensions between the U.S. and China over the value of the yuan. The currency war is one of our stories to watch, check out the other 9 here >
- Australia’s largest railway freight operator, QR National, is planning to launch a $4.9 billion IPO. The company’s stock will be listed on November 22.
- The CEO of ArcelorMittal, Lakshmi Mittal, is calling on China to make it easier for foreign entities to invest in the country. Mittal hopes the move would smooth relations between the U.S. and China, and allow Chinese companies to more easily invest in the U.S.
- Kim Jong-un was seen alongside his father at a military parade this weekend in North Korea. The move is adding to speculation Jong-un is being groomed to take over for his father. Here’s what we know about Kim Jong-un >
- Follow up to the minute coverage of global markets all day at Money Game >