In today’s briefing:
- UK: Return To Residual H2 Gloom
- CX Daily: Tech Self-Reliance, AI Take Spotlight in China’s Five-Year Plan
- Middle East FX (November 14th 2025)
- Oil futures: Crude off lows but oversupply concerns remain
UK: Return To Residual H2 Gloom
- UK GDP disappointed in Q3 at 0.1% q-o-q after the ONS revised away August’s surprise resilience and led it into a slight September fall, setting up for a soft Q4 too.
- Residual seasonality in service sector growth has reasserted itself on the average post-pandemic path. So statistical stories seem more plausible than fundamental ones.
- Weakness in labour market activity is more relevant. The hawkish half of the MPC probably needs disinflationary news to support a cut, but the Governor seems swayed.
CX Daily: Tech Self-Reliance, AI Take Spotlight in China’s Five-Year Plan
- In Depth: Tech Self-Reliance, AI Take Spotlight in China’s Five-Year Plan
- In Depth: Fugitive Couple Reemerges at the Helm of Volatile Nasdaq Firm
- China Moves to Spur Private Investment With Market Access, Financial Aid
Middle East FX (November 14th 2025)
Corporate lending to remain key driver for Saudi banks’ growth.
Lifetime residency for foreign buyers of properties in Saudi Arabia.
The IEA sees possibility for oil demand to grow till 2050.
Oil futures: Crude off lows but oversupply concerns remain
- Crude oil futures rebounded slightly Thursday from the previous-session’s slump, although the supply-glut narrative continued to outweigh Russian disruptions and elevated refining margins.
- Front-month Jan25 ICE Brent futures was trading at $62.98/b (2130 GMT) versus Monday’s settle of $62.71/b, while Dec25 NYMEX WTI settled at $58.69/b against a previous close of $58.49/b.
- Benchmarks edged higher but not before testing fresh three-week lows early in the session, with the excess capacity in the system expected to comfortably cover any losses caused to Russian supplies by the latest sanctions.
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