South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Japan’s Service Sector Sustains Growth Momentum in November 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
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 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
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 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
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 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
The U.S. dollar weakened in early Asian trade on Friday, leading declines among major currencies as investors reacted to signs of a slowing labor market and increased speculation of a Federal Reserve rate cut in December. The dollar index slipped 0.5% to 99.674, erasing its recent gains as traders ramped up expectations of monetary easing at the Fed’s next meeting on December 10.
With the U.S. government shutdown delaying the release of the official non-farm payrolls report, investors turned to private sector data that pointed to job losses in October, particularly in government and retail. The report also showed a surge in layoffs tied to cost-cutting and growing adoption of artificial intelligence across industries. Westpac noted that the latest Challenger report signaled a jump in announced job cuts, suggesting a cooling U.S. labor market.
Despite growing market confidence in an upcoming rate cut, Chicago Federal Reserve President Austan Goolsbee urged caution, citing the absence of fresh inflation data during the shutdown. “When it’s foggy, let’s just be a little careful and slow down,” he told CNBC. The CME Group’s FedWatch tool showed a 70% probability of a rate cut next month, up from 62% a day earlier.
The dollar traded at 153.17 yen, up 0.1% after Japan reported a 1.8% annual rise in household spending for September, slightly below the 2.5% forecast. The Australian dollar held at $0.6479, while the New Zealand dollar edged up 0.1% to $0.5635. The offshore yuan was steady at 7.1233 per dollar.
Meanwhile, the British pound traded flat at $1.3135 after the Bank of England left rates unchanged in a narrow 5-4 vote, with Governor Andrew Bailey casting the deciding vote. The euro remained near a one-week high at $1.1550.
