Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Most Asian currencies strengthened on Wednesday after U.S. President Donald Trump softened his stance on the Federal Reserve and signaled openness to easing trade tariffs on China. Meanwhile, the Japanese yen weakened following disappointing factory activity data.
The U.S. Dollar Index gained 0.3%, rebounding from a three-year low hit earlier this week. This came after Trump stated he had “no intention” of removing Fed Chair Jerome Powell, dialing back earlier criticism that had fueled concerns over the central bank’s independence. Markets also found relief in Trump’s comments on U.S.-China trade relations, as he hinted at a potential tariff reduction—though not a complete rollback.
Currency markets responded positively to the news. The Chinese yuan firmed, with the onshore USD/CNY down 0.2% and the offshore USD/CNH down 0.3%. The Australian dollar gained 0.4% against the greenback. South Korea’s won also advanced, with the USD/KRW falling 0.3%. The Singapore dollar and Indian rupee were mostly unchanged.
However, the Japanese yen weakened, with USD/JPY climbing 0.3%. This followed data showing Japan’s manufacturing sector contracted for a tenth straight month in April. The au Jibun Bank manufacturing PMI slipped to 48.5, below expectations. Concerns over ongoing U.S. tariff pressures contributed to the slowdown in new orders.
In contrast, Japan’s services sector showed signs of recovery, with the services PMI rising to 52.2 from 50.0 in March. The overall composite PMI moved into expansion territory at 51.1, up from 48.9 the prior month.
Markets remain sensitive to further developments on U.S. monetary policy and trade negotiations, which continue to influence currency volatility across Asia.
