Last week, global markets witnessed a reduction in trade tensions between the United States and China following the White House’s announcement of the meeting date between President Donald Trump and Chinese President Xi Jinping. The markets also monitored the U.S. imposing sanctions on the Russian oil companies Rosneft and Lukoil, as a new step to tighten economic pressure on Moscow. Additionally, the annual inflation rate in the United States rose less than expected in September, which may prompt the Federal Reserve to cut interest rates next week.

Monday, October 20:

• Slowdown in Chinese Economic Growth: The Chinese economy recorded its slowest annual growth rate for the year during the period from July to September, affected by trade tensions with the United States and weak domestic demand. However, it remains on track to meet its growth targets for 2025.
• Trump Expects Fair Trade Agreement with China: President Donald Trump expressed his expectation of reaching a “very fair” trade agreement with China soon, indicating an upcoming meeting with Xi Jinping to discuss trade issues.
• U.S.-Australia Rare Earths Agreement: Trump and Australian Prime Minister Anthony Albanese signed an agreement to enhance cooperation in the rare earths sector, aimed at reducing U.S. and allied dependence on China for these resources.
• Bank of England Warning: Bank of England Governor Andrew Bailey warned that the collapse of two American companies could be an early indication of broader financial disruptions.

Tuesday, October 21:

• OpenAI Launches New Browser: OpenAI launched its new AI-powered web browser, ChatGPT Atlas, to expand its presence in the browser market.

Wednesday, October 22:

• Oil Demand Forecasts: The Secretary-General of OPEC, Haitham Al-Ghais, predicted that global oil demand will reach 123 million barrels per day by 2050.
• New U.S. Sanctions on Russia: The United States imposed sanctions on Russia’s largest oil companies, Rosneft and Lukoil, to intensify economic pressure.

Thursday, October 23:

• New EU Sanctions Package: EU countries officially adopted the nineteenth package of sanctions against Russia, including a ban on imports of Russian liquefied natural gas.
• U.S. National Debt Exceeds $38 Trillion: The total U.S. government debt reached a new record high, surpassing $38 trillion, amid the ongoing federal government shutdown.
• China-U.S. Trade Talks in Malaysia: Chinese State Council Vice Premier He Lifeng plans to meet with U.S. officials in Kuala Lumpur from October 24 to 27 to resume trade talks.

Friday, October 24:

• Trump Ends Trade Negotiations with Canada: Trump announced the immediate end of trade negotiations with Canada, referencing a television ad that featured negative comments about tariffs from former President Ronald Reagan.
• Inflation in America Rises: The inflation rate in the United States rose less than expected to 3% in September, which may lead the Federal Reserve to consider cutting interest rates.
• October Inflation Report Not Issued: The White House announced that it is unlikely that inflation data will be released next month due to the ongoing government shutdown.
• Increase in Oil Drilling Rigs in the U.S.: Data from Baker Hughes indicated an increase in the number of oil drilling rigs in the United States during the week ending October 24.

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