Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian currencies posted modest gains on Thursday, lifted by a weaker U.S. dollar after disappointing ADP payroll data heightened expectations of further interest rate cuts by the Federal Reserve. The greenback slipped as the soft labor report signaled deeper cracks in the U.S. job market, with attention now turning to the upcoming nonfarm payrolls data for clearer direction.
The Japanese yen weakened slightly, with USDJPY up 0.1%, following underwhelming wage growth figures that cast doubt on consumer spending strength and Japan’s economic outlook for 2025. Meanwhile, South Korea’s won firmed, with USDKRW down 0.1%, after revised GDP data showed a smaller-than-expected Q1 contraction. Political sentiment also improved after a liberal party victory in the recent presidential election.
The Australian dollar slipped 0.1% against the greenback after April trade data revealed weaker-than-expected performance in key commodity exports. The Singapore dollar traded flat, with USDSGD largely unchanged.
In India, the rupee edged lower ahead of the Reserve Bank of India’s widely anticipated interest rate decision. The RBI is expected to cut rates by 25 basis points to 3.75%, its third cut since February, as the central bank looks to support economic growth amid easing inflation. However, analysts remain cautious, projecting the rupee to underperform other Asian currencies in 2025 due to persistent risk aversion.
Markets remain cautious amid global uncertainty, especially surrounding U.S. trade policy under President Trump. His latest move to double tariffs on steel and aluminum imports to 50% and a missed deadline for trade deal proposals continue to fuel investor unease. Traders are watching closely for developments in a potential Trump-Xi call, which could shift market sentiment.
