RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
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 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Oil prices slipped in early Thursday trade, pressured by a surprise build in U.S. fuel inventories and Saudi Arabia's price cut for Asian buyers. Brent crude futures dropped 21 cents, or 0.3%, to $64.65 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 29 cents, or 0.5%, to $62.58 as of 0047 GMT.
The decline followed a nearly 1% loss on Wednesday after U.S. Energy Information Administration (EIA) data showed gasoline and distillate stockpiles rose more than expected, signaling weakened demand in the world's largest oil consumer. This bearish inventory data added to concerns about slowing economic activity.
In a further bearish signal, Saudi Arabia, the leading exporter within the OPEC+ alliance, lowered its July crude oil prices for Asian buyers to near four-year lows. The move came shortly after OPEC+ announced an increase in output by 411,000 barrels per day for July, suggesting a more aggressive push to regain market share.
According to Reuters, the pricing strategy by Saudi Arabia and Russia aims to pressure overproducing members and reassert dominance in the global oil market. Analysts say the decision reflects a complex balancing act within the OPEC+ group as it navigates fragile demand recovery.
Global trade tensions also weighed on sentiment. Canada signaled possible retaliatory measures while the European Union reported progress in trade talks amid renewed U.S. tariffs on metals. Heightened volatility around President Trump’s tariff policies has deepened concerns of a global economic slowdown.
Ole Hansen, analyst at Saxo Bank, noted that uncertainty driven by shifting U.S. trade policy continues to rattle markets and fuel fears of reduced energy demand, casting a shadow over near-term oil price recovery.
