Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
U.S. Stocks Slip as Investors Await Fed Rate Decision and Monitor Market Shifts 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Japan’s Service Sector Sustains Growth Momentum in November 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
U.S. Cyber Monday Online Sales Surge Past $9.1 Billion as Holiday Shopping Momentum Builds 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Asian currencies saw modest gains on Tuesday as growing confidence in a potential U.S. Federal Reserve rate cut in December supported regional sentiment. The shift in expectations helped several Asian units recover recent losses, even as the U.S. dollar held firm ahead of a series of key economic reports.
Markets have sharply increased bets that the Fed will lower interest rates at its December 9–10 meeting, with CME FedWatch now pricing in nearly an 80% chance of a 25-basis-point cut—up from just 40% a week earlier. Comments from multiple Fed officials signaling support for easing contributed to this turnaround. According to the Wall Street Journal’s Nick Timiraos, Fed Chair Jerome Powell appears to have enough backing for a December cut, although policymakers remain divided on the outlook for further reductions.
Despite the shift in rate expectations, the dollar index stayed above the 100 level as traders awaited fresh U.S. economic data. Upcoming releases include September’s producer price index and retail sales, followed by the PCE price index—widely regarded as the Fed’s preferred inflation measure. These will form the last major data inputs before the December meeting, especially with officials warning that October’s inflation and labor numbers may not be published due to an extended U.S. government shutdown.
The Chinese yuan strengthened slightly, with USD/CNY slipping 0.1% amid optimism over U.S.-China relations, boosted by news that U.S. President Donald Trump plans to visit Beijing in April. Meanwhile, the Japanese yen remained near 10-month lows above 156 per dollar, hovering close to levels that have triggered government intervention in the past. Tokyo issued repeated warnings about excessive yen weakness, though no direct action has been taken. Analysts note that meaningful yen recovery would require stronger fiscal discipline and continued policy normalization by the Bank of Japan.
Regional currencies traded narrowly, with the Australian dollar dipping 0.1%, the Indian rupee holding above 89 per dollar, and both the South Korean won and Singapore dollar remaining largely unchanged.
