IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
Oil Prices Climb in Asian Trade as Venezuela Sanctions and Middle East Tensions Fuel Risk Premium 
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts 
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization 
Japan Signals Possible Yen Intervention as Currency Weakens Despite BOJ Rate Hike 
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike 
Silver Prices Hit Record High as Geopolitical Tensions Fuel Safe-Haven Demand 
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise 
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook 
U.S. Stock Futures Rise Ahead of Holiday-Shortened Week as AI Optimism Lifts Tech 
Yen Slides as BOJ Caution Undercuts Rate Hike Impact 
Why U.S. Coffee Prices Are Staying High Despite Trump’s Tariff Rollbacks 
The MSCI global equities index fell on Monday, and the dollar rose after Federal Reserve Chair Jerome Powell suggested that the central bank was not in a rush to cut interest rates. Oil futures remained flat, with trading volatility driven by tensions in the Middle East.
Brent Crude Suffers Significant Losses for Month and Quarter
Brent crude, a global benchmark, recorded its largest monthly drop since November 2022 and its biggest quarterly loss in a year. It slumped 17% in the third quarter as fears over reduced global demand overshadowed concerns about supply disruptions from the Middle East.
U.S. Markets React to Powell’s Comments
Wall Street experienced a mixed session, with some investors expecting more substantial easing from the Fed. However, Powell’s suggestion of two 25 basis point rate cuts this year, if economic conditions align with expectations, indicated a more measured approach.
“There were some expectations for a 50 basis point cut by the end of the year. That comment probably took it off the table,” said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas.
Wall Street Performance and Quarter-End Adjustments
Despite initial declines during Powell’s speech, U.S. indexes rebounded, driven partly by quarter-end adjustments to portfolios. The Dow Jones Industrial Average edged up 0.04% to 34,330.15, the S&P 500 rose 0.42% to 4,562.48, and the Nasdaq Composite increased 0.38% to 13,189.17. For the month, the S&P 500 gained 2.01%, and it rose 5.53% for the quarter.
Dollar Strengthens as Rate Cut Hopes Dim; Treasury Yields Rise
The dollar index, which measures the greenback against a basket of currencies, rose 0.32% to 100.76. The euro fell 0.27% to $1.1133, while the dollar strengthened 1% against the Japanese yen to 143.61. Treasury yields also rose, with the 10-year note yield up 3.6 basis points to 3.785%.
Energy and Precious Metals Market Update
In energy markets, U.S. crude closed at $68.17 per barrel, and Brent crude edged down 21 cents to $71.77 per barrel, marking its largest monthly drop since November 2022 and its biggest quarterly decline in a year.
Gold prices, after a strong rally, eased slightly with spot gold falling 1% to $1,831.39 an ounce, while U.S. gold futures declined 0.54% to $1,829.90 an ounce.
