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 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
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 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian stock markets climbed on Friday, mirroring Wall Street gains, as expectations of multiple U.S. Federal Reserve rate cuts lifted investor sentiment worldwide. Lower borrowing costs are seen as a major relief for global bond markets, while the U.S. dollar eased slightly.
Indexes in Japan, South Korea, and Taiwan hit record highs, supported by optimism around artificial intelligence earnings. Japan’s Nikkei rose 0.6% for the day and 3.7% for the week, while South Korea jumped 1.1%, adding more than 5% weekly. Chinese blue chips reached their strongest levels since early 2022, while MSCI’s Asia-Pacific index excluding Japan gained 1.2%.
The latest U.S. inflation data showed consumer prices staying moderate, reinforcing expectations of policy easing. Analysts at Citi now forecast core PCE inflation holding at 2.9% in August, supporting their outlook for 125 basis points of Fed cuts over the next five meetings. Markets are pricing in a 100% chance of a September cut to 4.00%-4.25%, with a strong likelihood of additional reductions this year. U.S. Treasury yields fell 20 basis points in two weeks, easing mortgage rates and boosting risk appetite.
European shares also rallied, with EUROSTOXX 50, FTSE, and DAX futures up 0.3%. The European Central Bank kept rates unchanged, calling policy “in a good place.” Analysts at JPMorgan expect a possible cut in December, though markets see limited odds of further easing.
In currency trade, the dollar held at 147.23 yen, while the euro firmed near $1.1730. Gold stayed steady at $3,633 an ounce, just below record highs. Oil prices weakened, with Brent at $66.09 and U.S. crude at $62.07, after the IEA warned of a record surplus in 2025 as OPEC output rises.
