Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian markets opened weaker on Wednesday after Wall Street losses, with investors digesting cautious remarks from Federal Reserve Chair Jerome Powell on interest rates. The MSCI Asia-Pacific index outside Japan fell 0.2% early, following the S&P 500’s 0.6% drop—its largest one-day loss in three weeks. Japan’s Nikkei declined 0.4%, while Australian shares slid 0.7% ahead of key CPI data. U.S. futures remained flat.
The U.S. dollar stabilized after back-to-back declines, with the dollar index up 0.1% at 97.301. Against the yen, the greenback slipped 0.1% to 147.575. Analysts at Westpac noted Powell’s remarks stressed “upside risks to inflation and downside risks to employment,” underlining the Fed’s delicate balancing act.
Despite the pullback, Asian equities are still on track for their strongest month in a year, buoyed by regional tech strength, a softer U.S. dollar, and renewed expectations of Fed rate cuts. Fed funds futures now imply a 93% chance of an October cut, up from 89.8% the day before. U.S. Treasuries attracted buyers, pushing 10-year yields down to 4.1061%, while the 2-year yield eased to 3.5673%.
On the macro front, weaker U.S. PMI data from S&P Global highlighted slowing business activity for a second straight month, raising growth concerns. Citi analysts flagged underlying weakness, pointing to firms struggling to pass on higher costs due to subdued demand and competition.
In commodities, Brent crude rose 0.3% to $67.86 per barrel as delays in Iraqi Kurdistan oil exports eased oversupply fears. Meanwhile, spot gold dipped 0.1% to $3,760.90 per ounce after hitting a record high the previous day.
Global investors remain cautious, balancing Fed signals, soft U.S. data, and commodity price swings as markets await further economic cues.
