Trump Questions USMCA Renewal as Trade Talks Continue 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Australia’s labour market showed clear signs of cooling in November, with national employment falling by the most in nine months. According to the Australian Bureau of Statistics, total employment declined by 23,100 jobs, reversing October’s strong gain of 41,200 and missing market expectations of a 20,000 increase. The drop was driven largely by a significant loss of 56,500 full-time positions, underscoring softening economic momentum.
Annual job growth slowed to 1.3%, a sharp deceleration from 3.5% earlier in the year and notably below the nation’s 2% population growth. Despite weakening employment conditions, the unemployment rate held steady at 4.3%, defying forecasts for a slight rise. The participation rate eased to 66.7% from 66.9%, while total hours worked remained flat following consecutive months of growth.
Economists noted that some volatility was expected after October’s surge. Harry Murphy Cruise of Oxford Economics highlighted that short-term fluctuations can mask broader labour trends, and the underlying picture points to a gradual cooling of the job market. This softening reduces pressure on the Reserve Bank of Australia (RBA) to implement near-term rate hikes.
Financial markets responded modestly, with the Australian dollar dipping 0.1% to $0.6667 and three-year government bond futures extending gains. Interest rate swaps now reflect a 23% probability of a February rate hike, rising to around 70% by May, with two increases priced in by the end of next year.
The RBA recently kept its cash rate at 3.6%, signalling no immediate policy easing as inflation remains elevated. Headline inflation rose for the fourth consecutive month to 3.8% in October, while trimmed mean inflation reached 3.3%, still above the central bank’s 2%–3% target range. Strong economic growth—its fastest in two years—has been fuelled by government, consumer and business spending, potentially adding to inflationary pressures even as the labour market loosens.
