Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
The MSCI global equities index fell on Monday, and the dollar rose after Federal Reserve Chair Jerome Powell suggested that the central bank was not in a rush to cut interest rates. Oil futures remained flat, with trading volatility driven by tensions in the Middle East.
Brent Crude Suffers Significant Losses for Month and Quarter
Brent crude, a global benchmark, recorded its largest monthly drop since November 2022 and its biggest quarterly loss in a year. It slumped 17% in the third quarter as fears over reduced global demand overshadowed concerns about supply disruptions from the Middle East.
U.S. Markets React to Powell’s Comments
Wall Street experienced a mixed session, with some investors expecting more substantial easing from the Fed. However, Powell’s suggestion of two 25 basis point rate cuts this year, if economic conditions align with expectations, indicated a more measured approach.
“There were some expectations for a 50 basis point cut by the end of the year. That comment probably took it off the table,” said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas.
Wall Street Performance and Quarter-End Adjustments
Despite initial declines during Powell’s speech, U.S. indexes rebounded, driven partly by quarter-end adjustments to portfolios. The Dow Jones Industrial Average edged up 0.04% to 34,330.15, the S&P 500 rose 0.42% to 4,562.48, and the Nasdaq Composite increased 0.38% to 13,189.17. For the month, the S&P 500 gained 2.01%, and it rose 5.53% for the quarter.
Dollar Strengthens as Rate Cut Hopes Dim; Treasury Yields Rise
The dollar index, which measures the greenback against a basket of currencies, rose 0.32% to 100.76. The euro fell 0.27% to $1.1133, while the dollar strengthened 1% against the Japanese yen to 143.61. Treasury yields also rose, with the 10-year note yield up 3.6 basis points to 3.785%.
Energy and Precious Metals Market Update
In energy markets, U.S. crude closed at $68.17 per barrel, and Brent crude edged down 21 cents to $71.77 per barrel, marking its largest monthly drop since November 2022 and its biggest quarterly decline in a year.
Gold prices, after a strong rally, eased slightly with spot gold falling 1% to $1,831.39 an ounce, while U.S. gold futures declined 0.54% to $1,829.90 an ounce.
