China Home Prices Fall Again in June Despite Slower Pace of Decline 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
The yen regained its footing on Wednesday in early Asian trading as investors moved into traditional safe-haven assets following a multi-day global stock selloff. After touching a nine-month low against the U.S. dollar on Tuesday, the yen edged up 0.1%, trading around 155.49 per dollar. Meanwhile, the U.S. dollar index held steady near a one-week high at 99.594, supported by increased demand for U.S. Treasury bonds.
Global equity markets have faced heavy pressure this week, with the S&P 500 extending its losing streak to four sessions. Concerns over lofty valuations in AI-related stocks have weighed heavily on sentiment, and U.S. equity futures continued to slide during Asian hours on Wednesday. Market anxiety deepened after U.S. initial jobless claims data showed a notable rise in Americans receiving unemployment benefits from mid-September to mid-October.
Tony Sycamore, market analyst at IG in Sydney, noted that this was the first major data release from the Department of Labor since the U.S. government shutdown began on October 1, adding that the results were “not great.” He emphasized that the upcoming delayed release of September’s non-farm payrolls report would be a more critical gauge of economic momentum.
Investor expectations for Federal Reserve policy also shifted slightly. Fed funds futures are now pricing a 46.6% chance of a 25-basis-point rate cut at the December 10 meeting, up from 42.4% the previous day, according to CME’s FedWatch tool. However, divisions within the Fed remain, with officials split between prioritizing labor market support and managing inflation risks.
Political pressure added another layer of uncertainty. U.S. President Donald Trump renewed criticism of Fed Chair Jerome Powell, whose term ends in May. According to Treasury Secretary Scott Bessent, Trump is expected to review the final shortlist of candidates after Thanksgiving and may announce his pick before Christmas.
In currency markets, the Australian dollar slipped to $0.65085 as wage data showed steady third-quarter growth, while the New Zealand dollar dipped 0.2% to $0.5659. The euro traded near a one-week low at $1.1580, and the British pound was steady at $1.3148.
Japan continued to increase its holdings of U.S. Treasuries for the ninth consecutive month in September, maintaining its position as the largest foreign holder with $1.189 trillion—its highest level since August 2022.
