Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
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 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Asian currencies and the U.S. dollar traded largely unchanged on Wednesday after Federal Reserve Chair Jerome Powell delivered a cautious outlook on monetary policy. Powell stressed the difficulty of balancing inflation control with employment risks, noting that there is no “risk-free path” as the central bank manages persistent price pressures alongside weakening job growth.
The U.S. Dollar Index, which tracks the greenback against a basket of major peers, inched up 0.1% and held near post-Fed decision levels. Futures tied to the index also rose 0.1% in early Asian trading. Powell’s remarks left markets uncertain about the timing of the next rate cut, though investors continue to price in two additional cuts this year in line with Fed guidance. Chicago Fed President Austan Goolsbee later echoed that the central bank has room to lower borrowing costs if inflation trends lower, but warned against aggressive easing given ongoing inflation risks.
Currency markets responded with muted moves. The Japanese yen’s USD/JPY pair gained 0.1%, while the South Korean won’s USD/KRW stayed flat. The Singapore dollar’s USD/SGD edged up 0.1%, and the Indian rupee’s USD/INR showed little change. In China, both the onshore yuan (USD/CNY) and offshore yuan (USD/CNH) rose 0.1%. Traders now look ahead to Friday’s U.S. core Personal Consumption Expenditures (PCE) report, the Fed’s preferred inflation gauge.
The standout performer was the Australian dollar. The Aussie rose 0.4% against the greenback after consumer price index (CPI) data showed a 3.0% year-over-year rise in August, slightly above forecasts and the fastest pace in a year. The figure hit the top of the Reserve Bank of Australia’s 2–3% target range, raising doubts about further rate cuts despite earlier signals of easing. Markets expect the RBA to hold its 3.6% cash rate steady at its September 29–30 meeting before potentially trimming rates in November.
Meanwhile, New Zealand appointed Anna Breman as the new Governor of the Reserve Bank of New Zealand, effective December 1. Breman, a former Deputy Governor at Sweden’s Riksbank, becomes the first woman and first foreign national to lead the RBNZ. The New Zealand dollar, however, remained flat against the U.S. dollar.
