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 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian markets showed a cautious recovery on Tuesday as optimism returned over ongoing U.S.-China trade negotiations. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, while S&P 500 futures gained 0.3%, extending Wall Street’s rebound from Monday after U.S. Treasury Secretary Scott Bessent confirmed that President Donald Trump remains scheduled to meet Chinese leader Xi Jinping in South Korea later this month.
Wall Street had rallied up to 2.2% on Monday, led by chipmakers, as Trump adopted a more conciliatory tone on trade tensions. The rebound followed sharp global selloffs last Friday after Trump’s announcement of 100% tariffs on China reignited fears of a trade war. Market sentiment improved when Trump later signaled openness to negotiations via Truth Social.
Citi analysts suggested trade tensions are unlikely to escalate, citing China’s strong bargaining position that could force the U.S. into a more flexible stance. In Asia, Taiwan’s benchmark led gains with a 2.2% jump, and South Korea’s Kospi advanced 1% after Samsung Electronics forecasted a 32% surge in third-quarter operating profit, supported by robust demand for conventional memory chips.
Japan’s Nikkei fell 1.2% as markets reopened from a holiday, while Australia’s benchmark slipped 0.1%. In currency markets, the U.S. dollar strengthened to 152.40 yen, and the dollar index stood at 99.289. Traders are almost certain the Federal Reserve will cut rates by 25 basis points at its October 29 meeting, with a 97.8% probability priced in, according to CME Group’s FedWatch tool.
Elsewhere, the euro was steady at $1.1566 after French President Emmanuel Macron rejected resignation calls. Brent crude edged up 0.4% to $63.56 per barrel following an OPEC report projecting balanced global oil supply in 2026. Gold rose 0.7% to $4,138.39 per ounce, while Bitcoin and Ether slipped 0.9% and 1.5%, respectively.
