Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
The U.S. dollar weakened on Wednesday as soft economic data reinforced expectations that the Federal Reserve will cut interest rates in December. Investors are increasingly betting that the likely next Fed chair could guide monetary policy in a more dovish direction, adding further pressure on the greenback.
The New Zealand dollar strengthened after the Reserve Bank of New Zealand cut rates as anticipated but struck a more hawkish tone on the future path of monetary policy. The kiwi climbed 0.75% to $0.5663, while the Australian dollar edged 0.14% higher to $0.6478 after local inflation data exceeded forecasts.
Recent U.S. figures showed retail sales rising less than expected in September, while producer prices matched market estimates. Consumer confidence also declined in November as households grew more anxious about employment prospects and personal finances. These indicators fueled market expectations of a near-term Fed rate cut, with traders now pricing in an 84% chance of a 25-basis-point reduction, according to the CME FedWatch tool.
The euro advanced toward $1.16, supported partly by signs of progress in a peace framework between Russia and Ukraine. Sterling held steady at $1.3166 as markets awaited a major U.K. budget statement expected to include significant tax increases. Demand for options hedging against pound volatility surged ahead of the announcement.
The dollar index slipped to 99.82, extending its decline from the previous session. Additional downward pressure came from reports that White House economic adviser Kevin Hassett has become the leading contender to replace Fed Chair Jerome Powell. Hassett has previously aligned with President Trump’s push for lower interest rates, reinforcing expectations of a more accommodative Fed leadership.
The weaker dollar offered modest relief to the Japanese yen, which traded at 156.24 per dollar, though still near its recent lows. With U.S. markets quieter ahead of the Thanksgiving holiday, traders warned that Japan could take advantage of thinner liquidity to intervene and support the yen.
