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 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian currencies traded in a narrow-to-lower range on Wednesday, weighed down by a stronger U.S. dollar and fading expectations of a Federal Reserve rate cut in December. The Japanese yen was a notable exception, edging higher after the Bank of Japan’s (BOJ) September meeting minutes revealed discussions about a potential rate hike.
The USD/JPY pair dipped 0.2% as BOJ policymakers signaled that conditions were aligning for an interest rate increase, with two members even voting for an immediate hike. Although the BOJ left rates unchanged in September and October, Governor Kazuo Ueda hinted that tightening could come as early as December amid persistent inflation. However, yen gains were limited by a robust dollar and concerns over Japan’s looser fiscal stance under new Prime Minister Sanae Takaichi.
The Chinese yuan remained steady after mixed October services PMI data showed modest growth. The RatingDog index highlighted slower expansion compared to the previous month, reinforcing concerns over China’s sluggish economic recovery. Nonetheless, sentiment improved slightly after U.S. President Donald Trump cut fentanyl-related tariffs on Chinese goods from 20% to 10%, and Beijing reduced some tariffs on American agricultural imports.
Meanwhile, the dollar index hovered near a three-month high as traders dialed back bets on a December rate cut. According to CME FedWatch, markets priced a 69.8% chance of a 25-basis-point cut and a 30.2% chance of no change. Despite an October rate cut, the Fed’s cautious tone has supported the greenback’s rally.
Across Asia, the Australian dollar weakened after soft PMI data, while the South Korean won fell 0.2% amid equity outflows. The Singapore dollar stayed flat, and the Indian rupee hovered near record lows, reflecting persistent market caution and firm U.S. rate expectations.
