Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian currencies and the U.S. dollar weakened on Monday as markets awaited clarity on shifting U.S. trade policies under President Donald Trump. Investor sentiment remained cautious after Trump announced plans to send tariff letters to several countries at 12:00 p.m. ET on Monday, adding that BRICS-aligned nations would face an additional 10% tariff due to what he called anti-American actions.
The U.S. Dollar Index slipped 0.2% during Asian trading hours, while futures edged 0.1% lower. The uncertainty around the exact nature and timeline of the tariffs, expected to take effect on August 1, kept market participants on edge. Trump previously introduced a 10% base tariff in April, with potential increases up to 70%.
In currency markets, the South Korean won (USD/KRW) rose 0.4%, the Thai baht (USD/THB) jumped 0.7%, and the Malaysian ringgit (USD/MYR) gained 0.5%. Both the onshore Chinese yuan (USD/CNY) and offshore yuan (USD/CNH) moved up 0.1% and 0.2%, respectively. The Japanese yen (USD/JPY), Singapore dollar (USD/SGD), and Indian rupee (USD/INR) all edged 0.1% higher against the U.S. dollar.
Meanwhile, the Australian dollar (AUD/USD) dropped 0.5%, its third consecutive decline, amid rising expectations of a rate cut by the Reserve Bank of Australia (RBA) on Tuesday. Analysts anticipate a 25-basis-point reduction, marking the RBA's third cut this year as inflation slows and global economic uncertainty persists. ING analysts noted that while a dovish RBA may weigh on AUD cross-pairs, the AUD/USD pair remains primarily influenced by U.S. trade developments.
Investors are now closely watching the upcoming central bank moves and further trade policy updates for market direction.
