New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Emerging market Asian currencies are expected to weaken further weaken further amid continuing policy tightening by the Federal Reserve and intensifying global risk aversion, according to the latest research report from Scotiabank.
Turkey’s economic crisis has deepened after US President Donald Trump doubled US import tariffs on Turkish steel and aluminium. It has added to concerns over escalating US-China trade war, pulling down the 10Y UST yield by more than 5 basis points with a rise in the VIX index that is the stock market’s fear gauge.
In addition, North Korea has vowed to preserve its nuclear science. Last Thursday, North Korea’s state-run newspaper, Rodong Sinmun, called the declaration of the end of the war "the demand of our time" and that would be the "first process" in moving toward a fulfillment of the June 12 deal.
South Korea’s Yonhap News reported on August 10 that China-based North Korea tour operator INDPRK said it received a notification from North Korean partners that they will stop all group package tours to the North starting Saturday and continuing until 5 September. It has raised the possibility of Chinese President Xi Jinping’s reciprocal visit to the North.
Meanwhile, Worries over a fragile Turkish economy and the risk of contagion in Europe unnerved investors on Friday and sent USD/TRY to a record high. Financial Times reported last Friday that "The ECB is concerned about the risk that Turkish borrowers might not be hedged against the lira’s weakness and begin to default on foreign currency loans, which make up about 40 percent of the Turkish banking sector’s assets", the report added.
Lastly, the USD/TRY currency pair traded at an all-time high of 6.9453, up 8.32 percent at the time of writing.
