Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
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 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
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 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian currencies traded mostly flat to lower on Friday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for near-term interest rate cuts, offering support to the U.S. dollar. The greenback trimmed its weekly losses after a strong labor report boosted confidence in the resilience of the U.S. economy, prompting markets to reassess the timing of Federal Reserve rate cuts.
The dollar index slipped 0.1% in Asia but remained firm after overnight gains. CME FedWatch data showed the probability of no rate cut in September rising sharply to 32%, although markets still priced in a 63.8% chance of a 25 basis point cut.
The Japanese yen weakened, with USDJPY up 0.3% despite strong May household spending data suggesting persistent inflationary pressure. The Australian dollar edged lower after weak trade figures, while traders braced for a possible rate cut by the Reserve Bank of Australia next week. The Singapore dollar held steady, while South Korea’s won slipped 0.1%.
China’s yuan remained muted, despite Beijing unveiling new stimulus measures and noting progress in U.S.-China trade relations after Washington eased chip export controls. Meanwhile, Taiwan’s dollar strengthened to its highest in over three years, supported by optimism around semiconductor exports amid improving U.S.-China ties.
The Indian rupee was largely unchanged. Regional sentiment remained fragile ahead of a July 9 deadline when U.S. President Donald Trump is expected to impose steep tariffs on major economies. Trump signaled he may start notifying countries of tariff rates as early as Friday.
Markets remain cautious over the potential global impact of Trump’s sweeping tax and spending bill, which could add $3.3 trillion to U.S. debt over the next decade, raising fiscal sustainability concerns amid growing trade tensions.
