Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Trump Meets Mexico and Canada Leaders After 2026 World Cup Draw Amid USMCA Tensions 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian currencies gained traction on Friday, buoyed by a weakening U.S. dollar and rising expectations of a Bank of Japan (BOJ) rate hike following strong inflation data. The U.S. Dollar Index dropped 0.3% during Asian trading hours and is on track for a 1% weekly decline, pressured by growing concerns over the U.S. fiscal deficit. Dollar Index Futures mirrored this trend, falling 0.3%.
The Japanese yen led regional gains, with USD/JPY slipping 0.4%, setting the yen up for a 1.5% weekly gain. Japan's core consumer price index rose 3.5% in April, surpassing expectations and marking the fastest increase in over two years. A separate measure that excludes both fresh food and energy also climbed to 3.0%. These numbers, coupled with recent wage hikes, have strengthened market sentiment for a potential 25 basis point BOJ rate hike by July.
Meanwhile, the dollar faced added pressure after the U.S. House passed President Trump’s "One Big Beautiful Bill" on Thursday, introducing massive tax cuts and increased spending on defense and border security. The Congressional Budget Office estimates the bill could inflate the U.S. national debt by $3.8 trillion over the next decade. Moody’s recently downgraded the U.S. credit rating to Aa1, citing mounting debt concerns.
This backdrop fueled a broader advance among Asian currencies. The South Korean won rose 0.5%, the Philippine peso gained 0.6%, and the Chinese yuan in both offshore and onshore markets edged up 0.1%. The Australian dollar climbed 0.3%, while the Singapore dollar and Indian rupee appreciated 0.2% and 0.1%, respectively.
