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EU Market Open: Trump is mulling joining Saudi against the Houthis; he also announced an immediate "energy ceasefire" between Russia & Ukraine

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  • US President Trump is considering joining Saudi strikes against Yemen's Houthis following deadly airport attacks, while Iran reiterated that Hormuz will only reopen once the US fulfils all seven conditions.
  • US President Trump announced a potential Russia-Ukraine energy ceasefire and a diesel deal with Russia, sparking criticism from US lawmakers.
  • APAC stocks traded mixed amid geopolitical tensions and holiday-thinned trade; US equity futures gained, while European futures point to a positive open.
  • DXY marginally softened amid lower oil prices and firmer Asian currencies; crude futures reversed opening gains as markets digested weekend geopolitics.
  • Looking ahead, highlights include BoE's Breeden and Mann, Fed's Hammack, and LVMH earnings. US cash bond markets are closed for Columbus Day.

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