Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
The U.S. dollar hovered near multi-year lows on Friday, pressured by expectations of deeper Federal Reserve rate cuts and uncertainty surrounding global trade negotiations ahead of a key July 9 deadline for new tariffs.
Traders are increasingly pricing in dovish shifts from the Fed, with markets now expecting 64 basis points of rate cuts in 2025, up from 46 basis points earlier in the week. Recent congressional testimony from Fed Chair Jerome Powell was seen as more dovish, fueling speculation that President Donald Trump may announce a new Fed Chair as early as September or October—months ahead of Powell’s term ending in May.
Reports suggest Trump is considering replacing Powell to install a more rate-cut-friendly leader. Though no decision is final, such a move could undermine Powell’s authority and introduce volatility into markets, especially if the nominee voices contrasting views.
The dollar index (DXY) was at 97.378, its lowest since March 2022, and is on track for a 2% loss in June—marking six consecutive months of decline. The euro traded at $1.1693 after touching a 2021 high of $1.1745, while the British pound held near $1.3733. The Swiss franc stood at 0.8013, its strongest level in a decade, and the yen slipped slightly to 144.73 per dollar.
Meanwhile, global trade remains in focus. German Chancellor Friedrich Merz urged the EU to pursue a “quick and simple” deal with the U.S., while a White House official confirmed progress with China on accelerating rare earth shipments. These developments come as nations rush to finalize trade agreements before the upcoming U.S. tariff deadline.
The weakening dollar reflects both policy uncertainty and mounting investor concerns over U.S. economic momentum.
