Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
German Industry Employment Falls to Lowest Level in a Decade 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Asian currencies weakened on Wednesday, with the South Korean won and Australian dollar leading regional declines, as investors awaited the delayed U.S. non-farm payrolls report and assessed the Federal Reserve’s uncertain rate outlook. The U.S. Dollar Index edged 0.1% higher in early Asian trade, reflecting steady demand for the greenback amid cautious market sentiment.
The September jobs report—postponed due to last month’s U.S. government shutdown—is now set for release on Thursday. Traders are watching closely for signs of labor market cooling or wage pressure moderation, which could influence expectations for a potential Fed rate cut. A softer-than-expected reading may boost hopes for a December policy shift, though the central bank has recently emphasized caution. With inflation still elevated and economic growth holding firm, markets currently price only a limited chance of a 25-basis-point cut before year-end.
The dollar’s resilience continued to pressure Asian currencies. The South Korean won saw USD/KRW jump 0.6%, while the Singapore dollar also slipped slightly, with USD/SGD up 0.1%. The Indian rupee weakened modestly as USD/INR gained 0.1%. In China, the onshore yuan held steady, though the offshore yuan ticked slightly higher against the dollar.
Adding to global uncertainty, U.S. President Donald Trump noted that he has selected his preferred nominee for the next Federal Reserve chair and could announce the decision soon. Even though Jerome Powell’s term runs until May 2026, speculation about potential leadership changes has stirred concerns over central bank independence.
In Japan, long-term government bond yields surged to multi-decade highs on worries about fiscal sustainability. Despite reaching a nine-month low the previous session, the yen stabilized, with USD/JPY slipping 0.1% to 155.40. The Australian dollar fell 0.4% as steady third-quarter wage growth reinforced expectations that the Reserve Bank of Australia will keep interest rates unchanged.
