Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Asian currencies saw modest gains on Thursday as the U.S. dollar softened, driven by rising expectations that the Federal Reserve will cut interest rates next month. The U.S. Dollar Index slipped around 0.1% in Asian trading after two sessions of sharp declines, reflecting weakening dollar momentum as traders increase their bets on policy easing.
Market pricing now suggests an 86% probability of a 25-basis-point Fed rate cut, although investors remain cautious. A prolonged U.S. government shutdown has delayed key economic data releases, creating gaps in understanding current economic conditions. Mixed messages from Fed policymakers have added to this uncertainty—some officials say inflation is easing enough to justify near-term rate cuts, while others warn against loosening policy too soon.
Markets are also reacting to speculation about potential Fed leadership changes, including reports that Kevin Hassett is being considered for the chair position—an appointment traders view as potentially more dovish.
A weaker dollar supported select Asian currencies. The Japanese yen strengthened, with USD/JPY down 0.3%, amid rising expectations that the Bank of Japan may raise rates as early as next month, especially after the yen hit a 10-month low last week. The Australian dollar gained 0.3%, while the New Zealand dollar rose 0.5%. Meanwhile, the Chinese yuan and Singapore dollar remained largely steady.
In South Korea, the Bank of Korea held its benchmark rate at 2.50%, marking a fourth consecutive meeting without a cut. The South Korean won strengthened, with USD/KRW falling 0.5%, as policymakers kept policy tight to counter inflation and currency pressure.
In India, the Reserve Bank of India is widely expected to deliver a 25-basis-point cut on December 5. The Indian rupee edged up 0.1% ahead of the meeting.
Overall, sentiment in Asian currency markets remains cautiously optimistic, with traders watching for delayed U.S. data, clearer Fed policy signals, and confirmation of any leadership changes that could influence global rate expectations.
