Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Most Asian currencies traded in narrow ranges on Monday, extending their subdued performance against the U.S. dollar after the Federal Reserve tempered expectations for a December rate cut. The dollar index hovered near a three-month high, supported by cautious sentiment and robust economic signals.
The Chinese yuan found limited support despite a new U.S.-China trade deal aimed at securing rare earth supplies for at least a year. The USD/CNY pair traded around 7.116, slightly higher after touching a one-year low last week. Meanwhile, China’s private manufacturing PMI data showed slower growth in October, although the sector remained in expansion territory, contrasting with government data indicating contraction.
The Japanese yen lingered near a nine-month low, with USD/JPY flat around 154. A market holiday in Japan kept trading volumes muted, while investors remained dovish on the Bank of Japan’s rate hike prospects.
In Australia, the AUD/USD pair moved sideways ahead of Tuesday’s Reserve Bank of Australia meeting. The RBA is widely expected to keep rates unchanged but may maintain a hawkish tone after stronger-than-expected third-quarter inflation. Comments from Governor Michele Bullock will be closely monitored for future policy cues.
Elsewhere, regional currencies saw little movement. The Singapore dollar (USD/SGD) rose 0.1%, the Taiwan dollar (USD/TWD) edged higher, and the Indian rupee (USD/INR) traded near record lows at 89 per dollar.
Investors are now focused on upcoming private U.S. labor market data after a prolonged government shutdown delayed official economic reports. Fed Chair Jerome Powell’s recent comments—downplaying immediate rate cuts following a 25-basis-point reduction—bolstered the greenback’s strength, setting a cautious tone for global currency markets.
