Japan’s Service Sector Sustains Growth Momentum in November 
U.S. Stocks Slip as Investors Await Fed Rate Decision and Monitor Market Shifts 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
U.S. Cyber Monday Online Sales Surge Past $9.1 Billion as Holiday Shopping Momentum Builds 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian markets extended a global downturn on Friday after a wave of hawkish remarks from Federal Reserve officials dampened hopes for a U.S. interest rate cut next month. Investors reacted swiftly as uncertainty surrounding inflation, economic data, and monetary policy pressured equities, bonds, and even traditionally safe-haven assets.
Japan’s Nikkei plunged 1.8%, marking one of its sharpest daily declines in weeks, while Australia’s resource-focused index slipped 1.5%. South Korea’s market saw an even steeper 2.3% drop. Sentiment was further weighed down as traders awaited fresh economic reports from China, with recent weak lending figures fueling concerns about slowing household and business activity.
The selloff on Wall Street intensified the global downturn, led by steep losses in Nvidia and other major AI-driven stocks due to valuation worries. Expectations for a December Fed rate cut fell from 63% to just 51% in a single day, pushing Treasury yields higher. The two-year Treasury yield held at 3.597% after a 3-basis-point jump, while the 10-year yield edged up to 4.125%.
Despite rising yields, the U.S. dollar weakened, slipping 0.2% against major currencies. The yen gained ground, trading at 154.7 per dollar after hitting a nine-month low, while the Swiss franc strengthened 0.6%. The British pound declined 0.3% following reports that U.K. leaders scrapped plans for income tax increases.
Investors were further unsettled by the White House announcement that the October U.S. unemployment rate may never be released, limiting visibility into labor market conditions. Fed officials added to the cautious mood, with St. Louis Fed President Alberto Musalem warning against easing too quickly and Cleveland Fed President Beth Hammack stressing that policy must remain restrictive. Minneapolis Fed President Neel Kashkari also signaled uncertainty regarding December’s decision.
Oil prices rose slightly but remained on track for a third weekly loss, while spot gold inched higher to $4,183 per ounce after breaking a four-day winning streak.
