Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Japan’s Service Sector Sustains Growth Momentum in November 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Oil prices slipped in Asian trading Monday, halting a three-week rally, after Chinese state media reported a significant oil discovery in the South China Sea. China National Offshore Oil Corporation (CNOOC) confirmed a new field with over 100 million tonnes of proven reserves near Shenzhen, within China’s Exclusive Economic Zone. While production timelines remain unclear, the discovery suggests long-term supply growth, easing immediate concerns over tighter global oil markets.
Brent crude futures for May dipped 0.2% to $73.52 a barrel, while West Texas Intermediate fell 0.2% to $68.74 a barrel. This decline follows recent gains driven by fears of constrained supply amid rising geopolitical tensions.
U.S. President Donald Trump’s threats of new sanctions on Russia, Iran, and Venezuela had supported oil prices, as investors anticipated supply disruptions. Over the weekend, Trump warned of secondary sanctions on buyers of Russian oil unless Moscow engages in ceasefire talks with Ukraine. He also threatened military action against Iran if it failed to negotiate a new nuclear agreement. Additionally, Trump is expected to unveil a new round of tariffs on April 2, with speculation of broader trade restrictions adding to market uncertainty.
Despite these pressures, oil’s downward movement was tempered by better-than-expected Chinese economic data. March’s Purchasing Managers Index (PMI) showed surprising strength in both manufacturing and services sectors, offering hope for a demand rebound in the world’s top oil importer.
Still, analysts note that China’s oil demand has slowed due to ongoing economic challenges, making domestic discoveries like the CNOOC oilfield strategically important. While offshore extraction remains complex and costly, the find could reduce China’s import dependence over time, reshaping regional energy dynamics and impacting global oil prices in the long term.
