Fitch confirmed Iraq's sovereign rating at B- with a stable outlook. Fitch's baseline assumes the parties will reach a durable agreement and the Strait of Hormuz will reopen around Q1 2027.

An analyst at Dongwu Futures said copper climbed in Asian morning trade but intensifying macro headwinds are clouding the outlook. After Democrats’ midterm sweep of Congress, investors are reassessing US tariff prospects, and rising concern that tougher regulation could curb an AI-related demand premium has added pressure. Copper concentrate supply remains tight and spot treatment charges (TCs) are low amid annual long-term contract talks; demand remains weak. Near term, despite longer-term supply support, copper is likely to stay volatile with a downside bias.

The U.S. State Department said U.S. Secretary of State Rubio spoke with French Foreign Minister Barrot about the situation in the Middle East and efforts to advance a peaceful resolution to the Russia-Ukraine war.