Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Australian Household Spending Dips in December as RBA Tightens Policy 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The Chinese yuan is facing continued depreciation pressure amid country’s economic slowdown, but is expected to range trade prior to the Summit and to rally moderately before long as the world’s two largest economies will likely reach a framework agreement, according to the latest research report from Scotiabank.
Chinese regulators are increasingly concerned about intensified downward pressure on the nation’s economy. Falling Baltic Dry Index, official manufacturing PMI and PPI inflation suggest China’s economy losing steam.
In addition, China’s outstanding total social financing (TSF) and M2 money supply increased at a slower pace in October, casting a shadow on the country’s growth outlook.
The US stock rout will raise the chance to deescalate US-China trade tensions at the upcoming Trump-Xi Summit set for December 1, although the USTR Office on Tuesday released a detailed 53-page report that accused China of continuing a state-backed campaign of intellectual property and technology theft, the report added.
Top White House economic adviser Larry Kudlow said in an interview with Fox Business Network Tuesday that President Donald Trump is trying to "inject a note of optimism" into trade talks with China ahead of the planned meeting with Chinese President Xi Jinping.
Meanwhile, Kudlow added that Trump "believes that China would like to have a deal" and "very detailed communications" are taking place at all levels of government.
"Separately, it would boost high-yielding and high-beta currencies in the region should the Fed ease rate hikes in the year of 2019. We are awaiting the December "dot plot" that could provide us good clues to the Fed’s rate tightening path," Scotiabank commented.
