Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
The U.S. Treasuries remained on the side-lines during Tuesday’s afternoon session amid a relatively quiet day ahead of FOMC member Williams’ speech, scheduled to be delivered today by 14:00GMT.
However, the country’s building permits and housing starts for the month of October are scheduled to be released today by 13:30GMT, which shall add direction to the debt market.
The yield on the benchmark 10-year Treasury yield jumped nearly 2 basis points to 1.826 percent, the super-long 30-year bond yield gained 1 basis point to 2.305 percent and the yield on the short-term 2-year surged 3 basis points to 1.621 percent by 11:30GMT.
Fed’s Mester, who had dissented against all three rate cuts this year, opined that “policy is now well calibrated to the economy” and “we’re in a good spot”, suggesting that the central bank is now effectively on hold. Meanwhile, Rosengren warned that “I wouldn’t want to distort financial markets to get that outcome” of inflation above 2 percent, OCBC Treasury reported.
Meanwhile, the S&P 500 Futures remained tad 0.26 percent higher at 3,129.88 by 11:35GMT.
