UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
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The emerging market Asian currencies are expected to weaken against the greenback amid declined speculative dollar-short positions. Also, the geopolitical situation n the Korean Peninsula during US President Donald Trump’s Asia travel on November 3-14. Trump is scheduled to visit South Korea on November 7.
Resilient private wage growth and rising oil prices will boost US inflation into the year of 2018. The prices of Brent oil have topped USD 62 per barrel for the first time in more than two years on rising hopes for a renewed deal to cut supplies for another nine months through the end of 2018. In the meantime, WTI oil prices have climbed persistently.
The US Federal Reserve is expected to stay on a gradual path of future rate hikes as Jerome Powell’s nomination as the next Fed Chair after Janet Yellen’s term ends in early February next year helped to maintain the policy continuity.
Meanwhile, Powell will be more in favor of financial de-regulation compared to Janet Yellen, which could prove beneficial for US stocks, sending UST yields higher over the time.
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