Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Most Asian currencies traded in narrow ranges on Monday, extending their subdued performance against the U.S. dollar after the Federal Reserve tempered expectations for a December rate cut. The dollar index hovered near a three-month high, supported by cautious sentiment and robust economic signals.
The Chinese yuan found limited support despite a new U.S.-China trade deal aimed at securing rare earth supplies for at least a year. The USD/CNY pair traded around 7.116, slightly higher after touching a one-year low last week. Meanwhile, China’s private manufacturing PMI data showed slower growth in October, although the sector remained in expansion territory, contrasting with government data indicating contraction.
The Japanese yen lingered near a nine-month low, with USD/JPY flat around 154. A market holiday in Japan kept trading volumes muted, while investors remained dovish on the Bank of Japan’s rate hike prospects.
In Australia, the AUD/USD pair moved sideways ahead of Tuesday’s Reserve Bank of Australia meeting. The RBA is widely expected to keep rates unchanged but may maintain a hawkish tone after stronger-than-expected third-quarter inflation. Comments from Governor Michele Bullock will be closely monitored for future policy cues.
Elsewhere, regional currencies saw little movement. The Singapore dollar (USD/SGD) rose 0.1%, the Taiwan dollar (USD/TWD) edged higher, and the Indian rupee (USD/INR) traded near record lows at 89 per dollar.
Investors are now focused on upcoming private U.S. labor market data after a prolonged government shutdown delayed official economic reports. Fed Chair Jerome Powell’s recent comments—downplaying immediate rate cuts following a 25-basis-point reduction—bolstered the greenback’s strength, setting a cautious tone for global currency markets.
