Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
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 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian shares and Wall Street futures rallied Thursday after a U.S. court blocked President Donald Trump’s proposed "Liberation Day" tariffs, boosting market sentiment and sending the dollar higher against safe haven currencies. The Court of International Trade in Manhattan ruled that Trump exceeded his constitutional authority by imposing broad tariffs on countries with trade surpluses against the U.S., sparking optimism among investors.
The White House quickly appealed the ruling, with potential escalation to the Supreme Court. Despite uncertainty, markets responded positively. Japan’s Nikkei jumped 1%, while South Korea’s Kospi rose 0.8%. MSCI’s Asia-Pacific index excluding Japan also edged higher as Chinese markets awaited opening.
S&P 500 futures climbed 1.5%, and Nasdaq futures gained 1.8%, supported by strong earnings from Nvidia (NASDAQ:NVDA). The chipmaker surpassed sales expectations and projected strong future revenues, pushing its shares up 4.4% in after-hours trading.
However, tension with China continued to mount. The Financial Times reported the U.S. ordered a halt to semiconductor design software sales to Chinese firms, while the New York Times noted Washington suspended sales of certain critical technologies, including jet engines and advanced chemicals.
The dollar surged, rising 0.8% against the Swiss franc to 0.336 and 0.6% against the yen to 145.76. The euro dipped 0.5% to $1.1230. Treasury yields rose, with the 10-year yield reaching 4.51%, as investors further pushed back expectations for a Federal Reserve rate cut. July odds fell to 22%, with September now at 60%.
Gold slipped 0.9% to $3,259 an ounce. Oil prices extended gains as OPEC+ maintained output levels and the U.S. restricted Chevron (NYSE:CVX) from exporting Venezuelan crude, lifting U.S. crude to $62.31 per barrel.
