Global Markets Steady as Yen Holds Firm After Japan Earthquake Amid Central Bank Focus 
ECB Signals Steady Rates Ahead as Policymakers Warn of Inflation Risks 
Global Currencies Steady Ahead of Key Central Bank Decisions 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Wall Street Futures Steady as Markets Await Fed Decision; Nvidia Gains on China Chip Sales Approval 
U.S. Defense Bill Sets Record $901 Billion Budget, Includes Ukraine Aid 
UK Job Market Shows Persistent Weakness Ahead of November Budget 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Japan’s Q3 Economic Contraction Deepens as Revised Data Signals Stronger Headwinds 
Asian Markets Slip as Investors Brace for Fed Rate Cut and Global Policy Decisions 
Australia’s Business Conditions Ease in November as Capacity Constraints Persist 
U.S. Economic Outlook 2026: Growth Seen Strengthening as Fiscal Support Ramps Up 
Oil Prices Dip as Markets Watch Ukraine Peace Talks and U.S. Rate Decision 
Stocks Slip as Investors Brace for Fed Decision and JPMorgan Warning Weighs on Markets 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
RBA Holds Rates but Warns of Rising Inflation Pressures 
Oil prices hovered near two-week highs in early Wednesday trading, supported by a U.S.-China tariff truce and a weakening dollar. Brent crude slipped 10 cents to $66.53 per barrel, while U.S. West Texas Intermediate (WTI) dipped 7 cents to $63.60. Both benchmarks had surged over 2.5% the previous day.
The U.S. and China agreed to ease tariffs for 90 days, with the U.S. reducing duties to 30% from 145% and China cutting import taxes to 10% from 125%. This trade pause helped ease market concerns about global demand, pushing oil prices up over $1.60 on Tuesday.
Additionally, the dollar index dropped 0.67% following softer-than-expected U.S. inflation data. A weaker dollar typically boosts oil demand by making it cheaper for foreign buyers.
Rystad Energy analysts noted the tariff rollback has reduced "demand-side pessimism" but warned of potential lingering impacts. U.S. inventory data added further support. According to the American Petroleum Institute, gasoline inventories fell by 1.4 million barrels and distillate stocks dropped 3.7 million barrels, signaling strong fuel consumption. However, crude inventories rose by 4.3 million barrels, contrary to analysts’ expectations of a 1.1 million-barrel draw.
Markets await official figures from the U.S. Energy Information Administration due later today. Meanwhile, President Donald Trump’s Gulf visit is in focus. He announced the lifting of sanctions on Syria and a $600 billion Saudi investment in the U.S. Rystad’s Mukesh Sahdev said Trump aims to stabilize summer oil prices, possibly by expanding U.S. Middle East crude reserves.
Geopolitical risks also persist. The U.S. imposed new sanctions on 20 firms linked to Iran’s oil exports to China amid nuclear talks, raising concerns over future supply disruptions.
