06:14 AM EDT, 10/29/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlighted:

Markets: United States Treasuries trade sideways, e-minis fall further in Asia, Asian equities trade mixed. Key foreign exchange pairs widely unchanged, yen recovers. Gold edges higher, Brent falls below $71.5/barrel.

US: Treasury estimates $546 billion net borrowing for Q4 ($19 billion lower than July's estimate), Q1 estimate is $823 billion. Continues to see a year-end cash balance of $700 billion, rising to $850 billion in Q1.

Middle East: Israel restricts operations of UNRWA on its territory.

==EUROPE:

ECB: Europan Central Bank Governing Council member Luis de Guindos sees disinflation "well on track," but outlook is surrounded by "susbtantial risks," reiterates that "future decisions will ensure that our policy rates will stay sufficiently restrictive for as long as necessary" while "not pre-committing."

Germany: Largest industrial labor union launches strikes, warns against Volkswagen plans. SPD and FDP hold two separate summits on industrial and economic policy strategy.

UK: British Prime Minister Keir Starmer doesn't rule out further tax hikes after Wednesday's budget, as Labour would "run towards tough decisions." BRC shop prices fall 0.8% year over year in October versus a consensus drop of 0.5%.

==ASIA:

Japan: Prime Minister Shigeru Ishiba will call the opposition party DPP for a "partial" coalition. The unemployment rate falls to 2.4% versus a 2.5% consensus.