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South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
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U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
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Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Most Asian currencies gained modestly on Friday, while the U.S. dollar nursed losses as traders maintained bets on an interest rate cut by the Federal Reserve next week. Despite hotter-than-expected U.S. consumer inflation data, markets are pricing in a 96.8% chance of a 25-basis-point cut at the Fed’s September 16–17 meeting, according to CME FedWatch.
The Indian rupee stood out as an underperformer, sliding to a record low of 88.499 per dollar. Sentiment soured after reports that Washington urged the EU and G7 to impose harsher tariffs on Russian oil buyers, particularly India and China. The move overshadowed progress in U.S.–India trade talks, pushing the rupee down 0.2% for the week.
The Australian dollar outshined regional peers, rising 1.8% this week as stronger commodity prices, especially metals, boosted demand. Taiwan’s dollar also advanced, with the USD/TWD pair down 0.8%, supported by capital inflows into local technology stocks amid optimism over lower U.S. interest rates.
The Chinese yuan gained 0.1% but showed only mild weekly gains, as strong government support was offset by lackluster trade and inflation data, fueling concerns over economic cooling. Meanwhile, the Japanese yen fluctuated sharply following Prime Minister Shigeru Ishiba’s sudden resignation but ended the week marginally higher.
Elsewhere, Singapore’s dollar edged up 0.1%, while South Korea’s won dipped 0.1%. The dollar index slipped 0.2% this week, pressured by soft U.S. labor market data and expectations that inflationary risks from potential new tariffs under President Donald Trump may not be as severe as feared.
With traders focused on the Fed, Asian currencies look set for further moves next week depending on the size of the rate cut and the central bank’s forward guidance.
