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Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
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Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Gold prices slipped in Asian trading on Monday as renewed risk appetite and a surge in expectations for a December U.S. Federal Reserve rate cut reduced demand for the safe-haven metal. Markets reacted to a rebound in equities and improved sentiment across risk-driven assets, alongside reports suggesting the U.S. is working toward facilitating a Russia-Ukraine ceasefire.
Despite the downward pressure, gold remained above the $4,000 per ounce mark, supported by ongoing concerns over global fiscal stability and heightened geopolitical tensions stemming from a China-Japan diplomatic dispute. Anticipation of several key U.S. economic reports scheduled for release this week also helped limit deeper losses, reinforcing expectations of potential near-term rate reductions.
Spot gold edged down 0.3% to $4,052.53 per ounce, while December gold futures dropped 0.7% to $4,086.10 by 01:07 ET (06:07 GMT). The metal lagged behind other precious commodities as traders sharply increased their bets on a 25-basis-point rate cut at the Fed’s December 9–10 meeting. According to CME FedWatch, the probability jumped to 67.3%, up significantly from last week’s 39.8%. Comments from New York Fed Governor John Williams, who noted easing inflation risks and potential threats to the labor market, fueled the shift in expectations.
Other precious metals outperformed gold, with spot platinum climbing 1.4% to $1,537.65 per ounce. Spot silver was slightly lower at $49.92385 per ounce.
Investors are now focused on a packed week of long-delayed U.S. economic data releases, expected to provide fresh insight into the country’s economic trajectory heading into December. Reports due include industrial production, capacity utilization, PPI, retail sales, building permits, durable goods, weekly jobless claims, and importantly, third-quarter GDP numbers. The Fed’s preferred inflation gauge, the PCE price index, is also set for publication.
These data points—delayed due to an extended government shutdown—may help clarify the economic outlook, though the lack of October figures means the Federal Reserve could still face uncertainty heading into its final meeting of the year, where policymakers remain split on further rate cuts.
