Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
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.
