Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Asian Currencies Decline as Dollar Strengthens Ahead of Key Data Releases
Asian currencies experienced slight declines on Tuesday as traders adopted a cautious stance, anticipating a series of significant economic reports. A stronger U.S. dollar, boosted by recent gains, pressured regional currencies as concerns over upcoming economic data and political events influenced trading sentiment.
Japanese Yen Stabilizes Amid Political Uncertainty
Following a steep drop to near three-month lows, the Japanese yen managed a modest recovery, gaining 0.2% against the U.S. dollar. This uptick came after Finance Minister Katsunobu Kato emphasized the government’s commitment to monitoring currency market volatility. The yen had fallen sharply post-election, as Japan’s ruling LDP coalition lost its majority, introducing heightened political uncertainty. Analysts expect the Bank of Japan (BOJ) to hold interest rates steady in its Thursday meeting, with policymakers cautious given the political backdrop.
Dollar Maintains Strength Amid Key U.S. Economic Data
The U.S. dollar index remained stable, hovering near recent highs, supported by expectations of a gradual approach to interest rate cuts by the Federal Reserve. Traders await U.S. GDP data on Thursday, followed by the Fed's preferred inflation gauge, the PCE price index, and nonfarm payrolls on Friday. These indicators could provide further insights into the Fed’s monetary strategy.
Regional Currency Movements
Asian currencies generally softened amid dollar strength. The Australian dollar fell 0.2% ahead of its inflation report, while China’s yuan gained 0.2% as markets awaited PMI data to gauge Beijing’s recent stimulus impact. The South Korean won and Singapore dollar also rose modestly, while the Indian rupee held near recent record lows.
