China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian markets fell on Tuesday as investors reacted to the U.S.-EU trade deal, which introduced steep tariffs likely to weigh on global growth and inflation. Relief from avoiding harsher measures faded when Europe’s new 15% levy was compared to the previous 1–2% rates before President Donald Trump took office.
European leaders, including those in France and Germany, warned the higher tariffs would drag on growth, sending regional stocks and bond yields lower and pressuring the euro. The common currency slid 1.3% overnight to $1.1592, its steepest drop since May, with support seen at $1.1556. Meanwhile, the U.S. dollar index rose to 98.674, with gains against the yen at 148.63.
Trump further signaled plans for a “world tariff” of 15–20% on non-deal trading partners, potentially the highest rates since the 1930s. JPMorgan economists called the shift a “big shock” to global trade, warning recession risks remain elevated at 40%.
Oil prices extended gains after Trump set a 10–12 day deadline for Russia to progress on ending the Ukraine war or face tougher sanctions. Brent crude held at $70.10 a barrel, while U.S. crude stayed at $66.73.
MSCI’s Asia-Pacific index excluding Japan dropped 0.7%, Japan’s Nikkei fell 0.8%, and Chinese blue chips dipped 0.1%. European futures steadied, with EUROSTOXX 50 up 0.2%. U.S. futures rose modestly ahead of earnings from Apple, Microsoft, and Amazon.
Treasury yields hovered at 4.408% as markets priced in a 97% chance the Federal Reserve will hold rates steady at 4.25–4.5% this week. Attention turns to upcoming U.S. data, including GDP, job openings, and payrolls, which could influence September rate cut expectations. Gold remained flat at $3,316 an ounce.
