Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
German Industry Employment Falls to Lowest Level in a Decade 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Oil prices recorded modest gains on Wednesday, extending a rally from earlier in the week as strong U.S. economic data and ongoing geopolitical risks supported market sentiment. Brent crude futures rose 4 cents, or 0.06%, to $62.42 a barrel, while U.S. West Texas Intermediate (WTI) crude increased 3 cents, or 0.05%, to $58.41 in early Asian trading.
The oil market has seen a notable rebound in recent sessions. On Monday, prices surged more than 2%, with Brent crude posting its largest daily gain in two months and WTI climbing to its strongest level since mid-November. This upward momentum continued on Tuesday, with prices advancing by over 0.5%, signaling renewed confidence among investors.
A key driver behind the recent rally was stronger-than-expected U.S. economic growth. According to the Commerce Department’s Bureau of Economic Analysis, U.S. gross domestic product expanded at an annualized rate of 4.3% in the third quarter, marking the fastest growth pace since the third quarter of 2023. Robust consumer spending played a central role in lifting economic activity, reinforcing expectations for sustained energy demand.
Market analysts also pointed to rising geopolitical tensions as a major source of support for crude prices. Disruptions to Venezuelan oil exports have significantly tightened supply expectations, while continued attacks on energy infrastructure linked to the Russia-Ukraine conflict have added to supply-side concerns. IG analyst Tony Sycamore noted that the combination of strong U.S. growth data and escalating geopolitical risks helped underpin overnight gains in oil prices.
Meanwhile, U.S. oil inventory data had limited impact on market sentiment. Industry figures showed U.S. crude inventories rose by 2.39 million barrels last week, alongside increases in gasoline and distillate stocks. However, analysts said the data was largely overlooked due to stronger macroeconomic and geopolitical factors. The U.S. Energy Information Administration is set to release its official inventory report later than usual due to the holidays, while seasonal demand patterns in December have further softened the market’s reaction to rising stockpiles.
Overall, oil prices continue to find support from resilient U.S. economic performance and ongoing supply risks, keeping the near-term outlook cautiously optimistic for the energy market.
