ASX Market Open: No chance for Melbourne Cup chop leaves Week 45 sentiments dragging early | Nov 3

Market Overview - The ASX is expected to open lower, with a projected decline of -0.4% due to rising inflation and a likely hold by the RBA on interest rates [3] - Recent inflation data indicates a significant core rise of over +1% through to September, contributing to market uncertainty [2][3] Company News - Westpac (ASX:WBC) reported a slight annual net profit decrease of 1%, totaling $6.92 billion, and is divesting its RAMS mortgage portfolio [4] - Coal magnate Matt Latimore is engaging with BlueScope Steel (ASX:BSL) and other international buyers regarding the acquisition of Whyalla, a major structural steel producer in Australia [5] - Mandrake Resources (ASX:MAN) secured an offtake agreement with Nasdaq-listed Stardust Power for its U.S. lithium refining operations [5] - Retailer Carma Limited is set to list on the stock exchange this Wednesday [5] Commodities and Forex - The Australian dollar is trading at 65.4 U.S. cents [6] - Iron Ore prices remain stable at $106.50 per tonne in Singapore [6] - Brent Crude oil has increased by +0.6% to $64.77 per barrel [6] - Gold prices have remained flat at $4,011 per ounce [6] - U.S. natural gas futures have risen by +4.2% to $4.12 per gigajoule [6]