EU Market Open: APAC stocks were mostly lower, and European bourses set for a negative cash market open; DXY mildly pressured

• Iran’s IRGC destroyed a US MQ-9 drone over the Strait of Hormuz; separately, Sabereen reported that explosions were heard in Bandar Abbas, though details were light.
• Crude benchmarks are mildly firmer amidst the tense geopolitical environment; the Pakistani Army Chief is set to arrive in Tehran today.
• APAC stocks were mostly lower; European equity futures are set for a lower open.
• G10s are mildly firmer against the softer USD; the Kiwi marginally leads.
• Fixed benchmarks are mixed; JGBs soar following a stellar 20-year auction.
• Looking ahead, highlights include German PPI (Sep), UK Unemployment Rate (Aug), EU/German ZEW Survey (Oct), US Building Permits (Sep), NBH Policy Announcement. Speakers include BoE's Greene & RBA's Hauser, Supply from the UK & Germany. Earnings from EssilorLuxottica, ABB, GE Aerospace, General Motors, RTX, Northrop Grumman, Netflix & United Airlines.

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