Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Trump Meets Mexico and Canada Leaders After 2026 World Cup Draw Amid USMCA Tensions 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
RBNZ Cuts Rates Amid Inflation and Growth Concerns
The Reserve Bank of New Zealand (RBNZ) lowered its official cash rate by 50 basis points to 4.75% on Wednesday, aligning with market expectations. The move is aimed at controlling inflation and supporting economic growth.
Inflation Targets and Economic Outlook
The RBNZ cited growing confidence that consumer price index (CPI) inflation will fall within its 1% to 3% target range by the September quarter. However, the central bank emphasized that at 4.75%, the cash rate remains restrictive, with future rate changes dependent on the economy's trajectory.
Weakening Economy and Labor Market
Despite the rate cut, the RBNZ expressed concerns about the weak state of the New Zealand economy and forecasted a softening labor market in the coming months. This is the second rate cut in 2024, following a 25 basis point reduction earlier in the year.
Uncertainty in Future Rate Cuts
The RBNZ hinted that while it had signaled potential further cuts, future rate changes might not be guaranteed. Policymakers are now taking a cautious approach, monitoring the impact of previous rate reductions on the economy.
Following the announcement, the New Zealand dollar (NZD) weakened, with the NZD/USD pair dropping nearly 0.5%.
