Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Oil prices extended their rally in Asian trading on Friday, maintaining levels above a seven-week high and positioning for a strong weekly gain. The surge comes as concerns mount over Russian supply disruptions alongside an unexpected decline in U.S. crude inventories, both of which have tightened the market outlook.
As of 21:08 ET (01:08 GMT), Brent crude futures for November delivery edged up 0.3% to $69.63 per barrel, while West Texas Intermediate (WTI) futures rose 0.4% to $65.25 per barrel. Both benchmarks remain at their highest since early August and are on track for a weekly rise of more than 4%.
Russia announced partial restrictions on diesel exports and extended its gasoline export ban until the end of 2025 to secure domestic fuel supplies. Meanwhile, Ukrainian drone strikes have targeted Russian energy facilities in Bryansk, Samara, and Bashkortostan, disrupting refinery operations and intensifying fears over reduced export capacity. Added pressure comes from Washington and its allies, who are considering new sanctions on Moscow, potentially curbing Russian crude and diesel exports further.
On the demand side, U.S. government data confirmed a notable draw in crude inventories. The Energy Information Administration reported a decline, echoing earlier figures from the American Petroleum Institute that estimated a 3.8 million barrel drop for the week ending September 19. This tightening supply-demand balance provided fresh support for oil prices.
However, broader economic concerns limited gains. President Donald Trump announced new tariffs on key imports, including a 100% duty on branded pharmaceuticals, 25% on heavy-duty trucks, and 50% on kitchen cabinets. Analysts warned that higher costs in the transport sector could dampen diesel demand.
Additionally, stronger-than-expected U.S. GDP growth has added uncertainty around Federal Reserve interest rate cuts. With tighter monetary policy weighing on fuel consumption, traders are closely watching the upcoming release of the Fed’s preferred inflation gauge, the PCE price index, for further signals.
At present, supply risks from Russia, coupled with U.S. inventory declines, continue to underpin bullish momentum, though trade tensions and monetary policy remain key headwinds.
