Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Most Asian currencies traded in narrow ranges on Thursday as investors assessed mixed signals from the U.S. Federal Reserve and awaited key developments from a meeting between U.S. President Donald Trump and Chinese President Xi Jinping in South Korea. The dollar retreated slightly in Asian trade after rallying overnight, with traders booking profits following the Fed’s rate cut and cautious tone on future policy moves.
The Federal Reserve reduced interest rates by 25 basis points as expected but downplayed the likelihood of another cut in December. The move fueled uncertainty over the U.S. economic outlook, particularly amid the prolonged government shutdown. The dollar index slipped 0.2% after a strong overnight performance, while Asian currencies largely held firm.
The Chinese yuan strengthened, with the USDCNY pair edging to 7.0973—its strongest since November 2024—after a firm midpoint fix by the People’s Bank of China. Optimism surrounding the Trump-Xi meeting also supported the yuan, as both leaders signaled progress on resolving trade tensions. Discussions are expected to cover rare earth exports, U.S. semiconductor restrictions, and broader trade cooperation.
Meanwhile, the Japanese yen weakened slightly, with the USD/JPY pair down 0.3%. Investors turned cautious ahead of the Bank of Japan’s policy announcement, where rates are expected to remain unchanged. Speculation of continued loose fiscal policy under Prime Minister Sanae Takaichi added pressure to the yen.
Across the region, the Singapore dollar slipped 0.1%, while the Taiwan dollar rose 0.1%. The South Korean won gained 0.4% after Washington and Seoul finalized a new trade agreement. The Australian dollar advanced 0.3% following stronger-than-expected inflation data that curbed expectations of further rate cuts by the Reserve Bank. The Indian rupee remained near record lows, trading above 88 per dollar.
