Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Most Asian currencies traded within a narrow range on Tuesday, while the U.S. dollar remained under pressure as investors stayed cautious ahead of several crucial U.S. economic indicators, starting with the nonfarm payrolls report later in the day. The foreign exchange market showed limited risk appetite as traders positioned themselves for data that could influence global interest rate expectations and central bank policies.
The dollar index hovered near a two-month low in Asian trading, extending losses that began after the Federal Reserve recently cut interest rates and announced plans to buy $40 billion in short-term U.S. Treasuries each month. This move reinforced a dovish monetary policy outlook, as increased bond buying is expected to boost liquidity and keep borrowing costs contained. Market participants are now closely watching U.S. nonfarm payrolls for November and upcoming CPI inflation data, both of which are key inputs for the Fed’s data-driven approach to future rate decisions. Comments from Federal Reserve officials overnight further emphasized the importance of labor market and inflation trends.
Across Asia, currency movements were muted, although many currencies held modest gains accumulated over the past week due to dollar weakness. The Indian rupee stood out as the worst performer, sliding to a record low against the dollar. The USD/INR pair climbed to 91.083, reflecting sustained pressure on the rupee after softer domestic inflation data fueled expectations of additional interest rate cuts by the Reserve Bank of India. Ongoing uncertainty around U.S. trade tariffs also weighed on sentiment toward the Indian currency.
Elsewhere, the Chinese yuan and Singapore dollar posted marginal moves, while the Australian dollar eased slightly despite recent strength driven by speculation that the Reserve Bank of Australia could raise rates next year amid persistent inflation. The Japanese yen strengthened modestly, with investors bracing for potentially hawkish signals from the Bank of Japan as inflation remains sticky and the yen stays weak. Meanwhile, the South Korean won and Taiwan dollar weakened, pressured by capital outflows linked to heavy selling in local technology stocks.
Overall, Asian forex markets remained cautious, with global stock market weakness and upcoming central bank decisions keeping traders on edge.
