Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
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 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Oil prices fell on Tuesday as renewed supply concerns weighed on the market. Brent crude futures for November delivery dropped 54 cents, or 0.8%, to $67.43 a barrel by 03:20 GMT before expiring, while the more active December contract slipped 53 cents to $66.56. U.S. West Texas Intermediate (WTI) crude also declined, losing 50 cents, or 0.8%, to $62.95 per barrel.
The decline followed Monday’s sharp losses, when Brent and WTI both fell more than 3%, marking their steepest daily drop since August 1, 2025. Analysts pointed to expectations of fresh output from OPEC+ and the resumption of crude flows from Iraq’s Kurdistan region to Turkey as the main drivers of bearish sentiment.
Exports from northern Iraq resumed on Saturday for the first time in over two years, after an interim deal ended a long-standing deadlock. Meanwhile, OPEC and its allies, including Russia, are preparing for a meeting this weekend, where sources suggest the group is likely to approve an additional production increase of at least 137,000 barrels per day for November. Analysts warn that although OPEC+ production still falls short of its official quotas, markets remain uneasy about further supply.
At the same time, traders are balancing oversupply concerns with risks tied to Ukraine’s ongoing drone attacks on Russian refineries, which threaten to disrupt energy output. Adding pressure, fears of a U.S. government shutdown have amplified demand worries, with ANZ analysts noting that economic uncertainty could weaken consumption. A shutdown would also delay key economic data, including the payrolls report crucial for Federal Reserve policy decisions.
Elsewhere, U.S. President Donald Trump secured Israeli Prime Minister Netanyahu’s support for a Washington-backed Gaza peace plan, though Hamas’s position remains unclear. While geopolitics add complexity, the market’s immediate focus is on rising supply and its impact on oil demand outlooks.
