Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
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.
