Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
The U.S. dollar traded steadily on Wednesday, hovering close to its lowest level since early October as fresh economic data reinforced concerns about a softening labor market and uncertainty over the Federal Reserve’s next interest rate move. Investors remain cautious, closely watching upcoming inflation data for clearer signals on the timing of potential rate cuts.
The dollar index, which tracks the greenback against six major currencies, stood at 98.193, near the October 3 low reached earlier in the week. The index is down roughly 9.5% so far this year, putting it on track for its steepest annual decline since 2017. Weakening expectations around U.S. monetary tightening have weighed heavily on the currency.
Recent labor market data showed the U.S. economy added 64,000 jobs in November, beating market expectations. However, the unemployment rate rose to 4.6%, with analysts noting that the prolonged government shutdown distorted the figures. Market participants remain unconvinced that the data materially alters the Federal Reserve’s policy outlook, especially with inflation figures still pending.
The Fed delivered a widely expected rate cut last week but signaled limited appetite for further easing, projecting just one additional cut in 2026. In contrast, financial markets are pricing in two cuts next year, though expectations for a January move remain low. Analysts suggest that unless inflation cools more sharply, a March rate cut may also be premature.
In currency markets, the euro traded near a 12-week high at $1.1751 ahead of the European Central Bank’s policy decision, where rates are expected to remain unchanged. Sterling held steady around $1.3424 following weak UK labor data that strengthened expectations for a Bank of England rate cut. Meanwhile, the Japanese yen firmed to around 154.56 per dollar as markets anticipate a Bank of Japan rate hike to a multi-decade high, driven by inflation pressures and concerns over a weak yen.
With multiple major central bank meetings and key inflation data ahead, global currency markets are likely to remain volatile as investors reassess interest rate trajectories into 2026.
