Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Asian currencies traded in a flat-to-lower range on Thursday as the U.S. dollar steadied near a three-month high, supported by strong labor data and diminishing expectations for a Federal Reserve rate cut in December. Persistent uncertainty from a prolonged U.S. government shutdown also kept traders cautious, with attention turning to private economic indicators for market direction.
The dollar index and its futures slipped about 0.1% during Asian trading hours but remained close to their recent highs. The greenback maintained strength after Federal Reserve Chair Jerome Powell signaled that a December rate cut was not guaranteed, prompting markets to reassess earlier dovish expectations. According to the CME FedWatch Tool, traders now see a 59.3% chance of a 25-basis-point rate cut in December, down from 70.3% a day earlier.
Stronger-than-expected ADP nonfarm employment data for October underscored the resilience of the U.S. labor market, while Purchasing Managers’ Index (PMI) data showed sustained business activity. With official government data releases delayed by the shutdown, traders increasingly relied on private reports for economic cues.
The Japanese yen strengthened modestly, with the USD/JPY pair falling 0.2% after September wage income data showed a 1.9% year-on-year rise, improving from 1.3% in August—the slowest pace in a year. The stronger wage growth reinforced expectations that the Bank of Japan (BOJ) could move toward a rate hike as soon as December, following hints from the central bank’s latest meeting minutes.
Elsewhere, other Asian currencies saw limited movement. The Australian dollar was steady despite robust export and trade figures, while the Chinese yuan remained flat even as the People’s Bank of China (PBOC) set a slightly stronger daily midpoint. The Singapore dollar edged up 0.1%, the Taiwan dollar slipped 0.2%, and the Indian rupee weakened slightly, holding above 88 per U.S. dollar.
