US and Ukraine negotiations on Sunday focused on where the de facto border with Russia would be drawn under a peace deal, while the five-hour meeting was said to be difficult and intense, but productive, according to two Ukrainian officials cited by Axios.European and US equity futures are broadly on the backfoot, following on from a cautious mood in APAC trade.DXY is pressured by the stronger JPY following jawboning from Japanese officials and after BoJ Governor Ueda hinted at a December rate hike.Bonds were initially pressured following on from JGB downside, and then took a leg lower alongside Gilt underperformance soon after the European cash open.Crude futures benefit after OPEC+ holds output steady through Q1’26 and in reaction to further Ukrainian strikes in Russian oil refineries; 3M LME Copper surges to fresh ATHs above USD 11.2k/t, but has since scaled back given the risk tone and downbeat Chinese PMI figures.Looking ahead, highlights include US Manufacturing PMI Final (Nov), US ISM Manufacturing PMI (Nov), Saudi-Russia Business Forum, EU Supply. Speak from Fed Chair Powell (Fed Blackout) and BoE's Dhingra.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

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