New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Asian currencies traded mostly flat on Wednesday as investors remained risk-averse amid the ongoing Israel-Iran war and uncertainty ahead of the U.S. Federal Reserve’s policy decision. The dollar edged slightly lower, pressured by weak U.S. economic data, while traders anticipated dovish signals from the Fed.
The South Korean won and Taiwan dollar were notable outperformers. The USD/KRW dropped 0.6%, nearing an eight-month low, while the USD/TWD fell 0.4%. The Chinese yuan (USD/CNY) and Singapore dollar (USD/SGD) held steady, while the Australian dollar (AUD/USD) rose 0.2%. India’s rupee (USD/INR) also remained flat.
Market sentiment was also clouded by concerns over U.S. trade policy, with a July deadline approaching for President Donald Trump’s planned tariffs. Japan, in particular, faced headwinds. Prime Minister Shigeru Ishiba said no trade deal was reached with the U.S. during the G7 summit, and Japan’s May trade data showed exports shrinking for the first time in eight months. Analysts now expect Japanese exports to weaken further due to tariff pressures and slowing global demand. A sharper decline in imports also raised concerns about soft domestic consumption.
Meanwhile, the yen (USD/JPY) slipped 0.1%, showing limited reaction to the Bank of Japan's decision to hold interest rates steady and signal slower bond tapering into 2026 — a dovish stance.
The U.S. dollar index fell 0.1% in Asia after disappointing U.S. retail sales and industrial production data raised fears of economic slowdown. Markets widely expect the Fed to keep rates unchanged at 0.5% but are closely watching Fed Chair Jerome Powell’s projections for rate cuts. Powell has hinted at a slower pace of easing in 2025, following cumulative rate cuts of 1% through 2024.
