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Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
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Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Currencies Steady Amid Market Fluctuations
Most Asian currencies steadied on Thursday, following recent declines, as the Japanese yen lingered near three-month lows. The U.S. dollar remains supported by expectations of a slower pace of interest rate cuts, reflecting ongoing market uncertainty.
Increased risk aversion impacted regional currencies, with traders cautious ahead of a tight U.S. presidential race and rising tensions in the Middle East. The dollar and gold benefited from this risk aversion, while the yen struggled to attract safe-haven demand amid doubts about the Bank of Japan's (BOJ) capacity to raise interest rates further.
Japanese Yen Stabilizes with Intervention Concerns
The Japanese yen's USDJPY pair saw slight declines on Thursday after reaching a near three-month high in the previous session. Support for the yen emerged as Japanese officials warned against “one-sided” moves in the currency market, heightening fears of potential intervention. However, weak purchasing managers index (PMI) data indicated a contraction in business activity for October, keeping the yen fragile.
Anticipation of general elections in Japan this Sunday raises further doubts about future BOJ rate hikes. The ruling Liberal Democratic Party may need to form a coalition to maintain power, complicating the BOJ's monetary policy decisions.
Dollar Remains Strong Amid Rising Yields
The dollar index slightly dipped but remained close to three-month highs, bolstered by rising Treasury yields. Market expectations suggest the Federal Reserve may only cut rates by 25 basis points in November, supported by signs of resilience in the U.S. economy.
As broader Asian currencies made modest gains, the Australian dollar (AUDUSD) rose by 0.2%, while the South Korean won (USDKRW) remained stable after disappointing GDP data. The Chinese yuan (USDCNY) declined by 0.2%, while the Singapore dollar (USDSGD) and Indian rupee (USDINR) experienced slight drops.
