Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
The U.S. dollar soared to a three-week high after President Donald Trump imposed new trade tariffs, fueling demand for the greenback as a safe-haven asset. At 04:30 ET (09:30 GMT), the Dollar Index rose 1% to 109.305, following Trump’s 25% tariffs on Canada and Mexico and a 10% duty on China, citing concerns over illegal immigration and drug trafficking.
China, Canada, and Mexico vowed retaliation, raising fears of a renewed global trade war. The offshore yuan hit a record low, the Mexican peso plunged to its weakest in nearly three years, and the Canadian dollar slumped to its lowest level since 2003. Investors anticipate further volatility as trade tensions escalate.
The euro weakened as EUR/USD dropped 1.1% to 1.0248, its lowest since November 2022. Trump hinted at imposing similar tariffs on the European Union, exacerbating concerns over trade imbalances. The U.S. ran a $200 billion trade deficit with the EU last year. Meanwhile, the ECB recently cut interest rates, aiming to boost economic growth amid easing inflation.
Sterling remained relatively stable, with GBP/USD slipping 0.1% to 1.2313. Trump suggested that U.K. tariffs were a possibility but indicated a resolution could be reached. The Bank of England’s upcoming policy meeting may result in interest rate cuts to support the sluggish economy.
In Asia, the offshore yuan (USD/CNH) edged 0.3% higher to 7.3400 after Trump’s tariffs dampened China’s export prospects. Beijing condemned the move and hinted at strong stimulus measures. The Japanese yen saw limited weakness, with USD/JPY trading at 155.22, benefiting from its safe-haven status.
Market uncertainty remains high, with investors closely watching inflation data and central bank decisions as global trade tensions escalate.
