06:13 AM EST, 11/08/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries stable in Asia after consolidating Federal Reserve gains, e-minis sideways after S&P closes on new high, Asian equities mixed. EURUSD falls back below 1.08 overnight, oil softer.

Fed cuts by 25bps, unanimous decision. Chair Jerome Powell says he isn't ruling another cut in December "out or in;" wouldn't resign if asked by incoming President Donald Trump, underscores that removal or demotion of any Fed board member "is not permitted under the law." Says it's too early to know the timing or substance of any potential fiscal policy changes.

US: Russian President Vladimir Putin congratulates Trump, says his Ukraine-proposals deserve attention. Trump tells NBC he already had calls with 70 world leaders, appoints Susie Wiles as White House chief of staff. Republicans missing seven seats for a majority in the House with 25 still to be counted (AP).

==EUROPE:

ECB: Stournaras says US tariffs would "have a negative impact on the European economy". But current policy would continue "at least" through December as ECB needs to wait for "concrete declarations".

Germany: 2/3 of Germans want new elections as soon as possible (January), 1/3 supports Scholz' plan of confidence vote only on 15 Jan with elections in March (ARD Deutschlandtrend).

Europe: Danish PM says Trump sounded ready to stay engaged in Europe in "very direct" phone call. Zelenskiy says "a quick ending" to Ukraine war would mean a loss.

Trade: France is trying to convince Poland to block EU's Mercosur deal as Brussels tries to seal deal with Latin America before year-end (BBG sources).