Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Japan’s Service Sector Sustains Growth Momentum in November 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
The Japanese yen hovered near a record low against the euro and a nine-month trough versus the U.S. dollar on Thursday after Japan’s new Prime Minister, Sanae Takaichi, urged the Bank of Japan (BOJ) to move cautiously on raising interest rates. The yen traded at 179.32 per euro after hitting an all-time low of 179.47 overnight and stayed steady at 154.82 per dollar following its dip to 155.05, the weakest level since February.
Takaichi emphasized her administration’s preference for maintaining low borrowing costs and called for close coordination with the BOJ, asking Governor Kazuo Ueda to provide regular updates to the government’s Council on Economic and Fiscal Policy. Meanwhile, Finance Minister Satsuki Katayama issued a fresh warning on yen weakness as it approached the 155 mark, citing “one-sided and rapid movements” in the foreign exchange market.
Economists say the yen’s persistent decline is raising concerns in Tokyo. Norihiro Yamaguchi of Oxford Economics noted that the exchange rate has become “crucial to the survival of the administration,” suggesting the government may eventually accept BOJ rate hikes to stabilize the currency. Markets now price in a 24% chance of a 0.25% rate increase in December, climbing to 46% by January.
In contrast, the Australian dollar strengthened to a two-week high of $0.6559 after official data showed a sharper-than-expected drop in unemployment, easing pressure on the Reserve Bank of Australia to cut rates. Employment surged in October, led by full-time hiring, lowering the jobless rate and signaling resilience in the labor market. A top RBA official said there’s growing debate over whether the current 3.6% cash rate is sufficiently restrictive to tame inflation.
A weak yen and solid Australian data have fueled volatility across currency markets, with traders watching closely as the U.S. government shutdown nears its end—potentially unleashing a flood of delayed economic reports.
