S&P 500 Hits Record High as AI Rally Lifts Wall Street 
Mike Rogers Calls for End to US-Canada Tariff War 
Oil Prices Rise as Hormuz Attacks Fuel Supply Fears 
Crypto Market Selloff Wipes Out $100B as Bitcoin Falls Below $83K 
France to Release 10 Million Barrels of Diesel to Ease Fuel Prices 
Bangladesh GDP Growth Accelerates to 4.6% on Industrial Rebound 
US-Led Coalition Targets Global Factory Overcapacity 
RBI Raises Repo Rate to 5.50% in Hawkish Shift on Inflation Risks 
Asian Currencies Steady as Dollar Holds Near 18-Month High 
Oil Prices Rise as Hormuz Risks Offset IEA Stock Release 
Fed Minutes Signal Another Rate Hike by Year-End 
Dollar Retreats From 18-Month High as Euro Rebounds 
Deere, CNH and AGCO Stocks Fall as FTC Launches Farm Equipment Probe 
Gold Prices Rise as Dollar Weakens, Treasury Yields Ease 
Iran Tanker Attacks Surge as Hormuz Oil Flows Near Prewar Levels 
Gold Prices Fall as Fed Signals Another Rate Hike 
UK House Prices Flat in September as Mortgage Rates Weigh 
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The U.S. dollar climbed to a nearly 18-month high on Wednesday as Federal Reserve minutes signaled another interest rate hike could come before year-end, while weakness in the euro and British pound provided additional support.
The U.S. Dollar Index, which measures the greenback against six major currencies, gained 0.4% to 102.24, hovering around its strongest level since April 9, 2025.
Minutes from the Fed’s September meeting showed that most Federal Open Market Committee participants believed another increase in the federal funds rate would likely be appropriate by the end of 2026. The Fed unanimously raised rates by 25 basis points in September, its first increase in more than three years.
Fed Chair Kevin Warsh has also emphasized the challenge of bringing inflation back toward the central bank’s 2% target. However, expectations for an October hike remain limited, with markets assigning an approximately 83% probability that rates will remain unchanged.
The euro fell 0.6% to $1.1195 as investors focused on France’s worsening fiscal outlook and political uncertainty. France’s budget deficit is projected at 5.4% of GDP this year, while public debt is nearing 120% of GDP. The government’s 2027 budget proposal seeks €54 billion in spending reductions to bring the deficit to 5%.
French bond yields have surged amid concerns over public finances and political tensions ahead of next year’s presidential election, adding pressure to the euro.
Sterling also weakened, falling 0.5% to $1.3213 as Britain’s 30-year government bond yield reached its highest level since January 1998. UK officials reiterated their commitment to fiscal credibility amid challenging global financial conditions.
In Asia, the Indian rupee dropped as low as 97.151 per dollar despite the Reserve Bank of India raising its repo rate by 25 basis points to 5.50%. The RBI also shifted its policy stance to “calibrated tightening,” but the widely expected hike failed to offset pressure from high crude oil prices and continued capital outflows.
