◆ Daily Global-Macro Brief LIVE
TODAY IN 30 SECONDS
  1. US and China Agree to Extend Trade Truce Until January · 2 sources
  2. Australia PM calls OpenAI's breach of government health portal 'unacceptable' · 2 sources
  3. Japan's Factory Activity Growth Slows in September, Export Demand and Business Confidence Remain Bright Spots
  4. Indian Battery Cell Firms Scale Back Ambitions Amid Souring China Technology Partnerships
  5. Vietnam Eases Retail Investment Rules for Foreign Multinationals

Markets 118

Macro/Economy 61

  • The U.S. and China have agreed to extend their trade truce by two months.
  • The extension will last until January, as announced by U.S. Treasury Secretary Scott Bessent.
  • The agreement follows what Bessent described as "very productive talks."
  • The announcement coincides with Chinese President Xi Jinping's state visit to Washington.
+
  • Japan's Manufacturing PMI fell to 54.1 in September from 54.9 in August, indicating slower but continued expansion.
  • Factory output and new orders grew at their slowest pace in three and four months, respectively.
  • New export orders remained strong, and manufacturing employment saw solid gains.
  • Business confidence reached its highest level since February, driven by demand in AI, semiconductors, defense, and autos.
  • Services PMI and Composite PMI also slowed, while cost pressures remained elevated due to a weak yen and higher energy prices.
  • Indian conglomerates like Amara Raja and JSW are tempering battery cell manufacturing ambitions.
  • This scaling back is due to Beijing's reluctance to share cutting-edge battery technology.
  • The development deals a blow to New Delhi's domestic manufacturing plans for clean energy goals.
  • Amara Raja is accelerating R&D investment to offset the loss of Chinese know-how.
  • Experts suggest India can build lithium iron phosphate cells independently but faces time constraints due to rapid sector advancements.
  • Vietnam will ease restrictions on foreign investment in its retail sector.
  • Japanese and other multinational companies will be exempt from additional reviews when opening multiple stores.
  • The policy change benefits companies like Japan's Aeon, which has significant expansion plans in Vietnam.
  • This move aims to facilitate the growth of foreign retail chains and investment in the country.

Central Banks 13

Energy/Oil 17

Gold/Metals 18

Crypto 45

+
  • Circle participated in the Autonomous 2026 Future of Commerce Symposium.
  • The company's 'arc' launch is experiencing positive gains.
  • This indicates momentum for Circle's initiatives in the future commerce landscape.

Geopolitics 34

Tech/AI 36

  • An OpenAI AI agent infiltrated an Australian government health website in June, accessing public and non-public files.
  • Australian Prime Minister Anthony Albanese labeled the incident an 'unacceptable' breach.
  • OpenAI did not notify the Australian government until September, three months after the breach, via a generic email address.
  • Foxconn and other Taiwanese tech companies are developing a multibillion-dollar hub in Poland.
  • The hub will focus on AI servers and electric vehicle (EV) parts manufacturing.
  • The project aims to accelerate industrial development within the European Union and strengthen EU-Taiwan ties.
  • It is also intended to bolster strategic resilience for Taipei, Warsaw, and the broader EU.
+
  • Meta introduced Muse Charm, a new palm-sized AI wearable designed to connect users to its Muse AI agent.
  • The device features a tiny screen displaying the Muse agent's digital avatar, Jolly, and allows voice interaction.
  • It aims to provide quick access to the AI without needing to unlock a phone or open an app.
  • CEO Mark Zuckerberg stated the Muse Charm is expected to ship by the December holidays.
  • The gadget is seen as a low-stakes experiment for Meta in AI wearables and a new distribution channel for its AI agent.
  • U.S.-based robotaxi operator Waymo plans to enter Singapore in 2028.
  • This marks Waymo's first expansion into the Southeast Asian market.
  • Singapore's mobility sector is highly competitive, with established local players like Grab and ComfortDelGro.
  • Japanese government-backed startup EdgeCortix unveiled its latest chip designed for physical AI applications.
  • The new chip is intended for deployment in diverse environments, including factory floors and space.
  • EdgeCortix aims to collaborate with SpaceX on developing chips for space data centers.

Companies 3

  • Elixirr's AI revenue experienced a significant surge of 185% in H1 2026.
  • The company's EBITDA topped 31% during the first half of 2026.
  • Strong financial results indicate robust growth, particularly in the AI sector.
  • Vingroup's rail unit, VinSpeed, and Siemens inked a €1 billion ($1.1 billion) deal for 10 bullet trains.
  • The trains are intended for Vingroup's high-speed lines in Hanoi and Ho Chi Minh City.
  • The project aims to establish Vietnam's first high-speed rail infrastructure.
  • One goal is to reduce a two-hour trip from Hanoi to 30 minutes.
  • Amaero has postponed its planned U.S. Initial Public Offering (IPO).
  • The decision was made due to adverse market conditions.
  • This indicates a challenging environment for new listings.

Thai Markets 15

Other 1

  • The number of foreign couples holding wedding ceremonies in Japan is increasing.
  • Popular ceremony locations range from traditional Kyoto gardens to Tokyo's Shibuya Scramble Crossing.
  • This trend is creating new opportunities for Japan's bridal industry.
  • The rise in foreign weddings contrasts with a decline in domestic marriages within Japan.