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 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
The Japanese yen and U.S. dollar gained on Wednesday as investors flocked to safe-haven assets following a steep tech-driven selloff on Wall Street that rippled across Asian markets. The Australian and New Zealand dollars weakened further, reflecting growing risk aversion and regional economic pressures.
The risk-sensitive Aussie slipped 0.2% to $0.6476, while the New Zealand dollar fell 0.1% to $0.5635, hovering near a seven-month low after unemployment rose to its highest level since 2016. The kiwi also languished at a 12-year low against the Aussie at NZ$1.1512. Sterling traded near a seven-month low at $1.3016 after British Finance Minister Rachel Reeves hinted at broad tax increases in her upcoming budget, intensifying pressure on the pound.
“Risk-off sentiment has been pervasive across markets,” said Ray Attrill, Head of FX Research at NAB, noting that the U.S. dollar strengthened against most major currencies except the yen. He added that investors are also responding to signals of fiscal tightening in the U.K.
Asian stock markets mirrored Wall Street’s losses, with Japan’s Nikkei down 2.4% and South Korea’s KOSPI plunging 4.8%. The U.S. dollar index held steady at 100.18 after reaching its highest level since August 1. Market sentiment was also dampened by a prolonged U.S. government shutdown that has disrupted key economic data releases, placing greater focus on the upcoming ADP payroll report.
The yen rose 0.2% to 153.42 per dollar, extending Tuesday’s 0.7% gain, while the euro steadied at $1.1483. Analysts noted that the Reserve Bank of Australia’s decision to hold rates steady signaled a cautious stance, keeping the Aussie under pressure.
Meanwhile, Bitcoin traded flat near $100,317 after plunging 6.1% on Tuesday, its sharpest one-day drop since June, reflecting broader investor unease across global markets.
