Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
The U.S. dollar held firm early Thursday after a sharp plunge to a 3-1/2-year low and swift rebound, as traders digested the Federal Reserve’s cautious outlook on interest rates. The Fed cut rates by 25 basis points on Wednesday as expected, signaling more gradual easing ahead.
Fed Chair Jerome Powell described the move as a “risk-management” step tied to labor market weakness, while stressing there is no need to rush rate cuts. The central bank’s dot plot pointed to another 50 basis points of cuts this year, but only one reduction in 2026, highlighting ongoing uncertainty about inflation risks.
The dollar index tumbled to 96.224, its weakest since February 2022, before bouncing back to 97.074, up 0.44% on the day. The euro was steady at $1.1818 after spiking to a 27-month high of $1.19185. Sterling traded flat at $1.3626, easing from Wednesday’s peak of $1.3726.
Markets now await the Bank of England’s decision later Thursday, with policymakers expected to hold rates at 4%. U.K. inflation rose 3.8% annually in August, matching forecasts and reducing the likelihood of near-term cuts.
Against the yen, the dollar slipped 0.08% to 146.815 after briefly falling to 145.495, its weakest since July. The Bank of Japan is expected to hold rates Friday, though markets assign 50% odds of a hike by year-end. Political focus remains on Japan’s October 4 leadership vote after Prime Minister Shigeru Ishiba’s resignation.
Elsewhere, New Zealand’s dollar slid 0.49% to $0.5935 after GDP contracted more than expected, while the Australian dollar was steady at $0.6655 ahead of jobs data. The Canadian dollar held at C$1.3772 after the Bank of Canada cut rates to a three-year low, citing weak employment and easing inflation pressures.
