Oil Prices Jump Nearly 3% as Iran Holds Firm on Hormuz Conditions 
Japan Factory Output Unexpectedly Falls 1.7% in August 
Fed’s Williams Signals One More Rate Hike Before Year-End 
BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans 
Asian Stocks Rise as Bond Yields Ease Ahead of U.S. Inflation Data 
XRP Price Targets $1.70 as Bullish Momentum Builds 
US Dollar Hits Two-Month High as Aussie, Pound Slide 
U.S. Stock Futures Steady as AI, Rate Concerns Weigh 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
Asian Stocks Fall as Oil Surge, Bond Yields and AI Concerns Hit Markets 
US Alcohol Ban Exposes Canada’s Internal Trade Barriers 
UK Housebuilder Stocks Surge on New First-Time Buyer Loan Scheme 
Nvidia China Chip Sales Report Sends Chinese Semiconductor Stocks Lower 
South Korea Exports Set for 16th Monthly Gain on AI Chip Demand 
Gold Holds Near Seven-Week Low as Fed Rate Hike Bets Rise 
Gold Rebounds as Oil Falls and Treasury Rout Eases 
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Dollar Maintains Stability Amid U.S. Jobs Report and Fed Speculation
The U.S. dollar held steady against major currencies on Friday as investors anticipated the latest U.S. nonfarm payrolls report. This report is expected to shed light on the economy's resilience ahead of the Federal Reserve's meeting and the tight U.S. presidential race next week.
Yen Gains as BOJ Hints at Future Rate Hikes
The Japanese yen maintained Thursday's gains after the Bank of Japan (BOJ) hinted at a potential shift away from its ultra-loose monetary stance. While the BOJ kept rates low, economists from Morgan Stanley MUFG suggest a December rate hike is now more likely, with a January increase to 0.5% remaining in their base case. Key factors such as yen-dollar exchange rates and upcoming inflation data may influence BOJ's decision.
U.S. Dollar Sees Monthly Gain
Despite a recent dip, the U.S. dollar logged its largest monthly gain since September 2022 in October, driven by tempered expectations for aggressive Fed rate cuts. The dollar index rose slightly to 103.94, while the yen traded at 152.18 per dollar.
Euro and Pound Under Pressure
The euro, hovering near a two-week high, was marginally lower at $1.0879 after data showed an unexpected rise in eurozone inflation. Meanwhile, the British pound faced selling pressure, trading at $1.2895, following Finance Minister Rachel Reeves's announcement of the largest tax hike since 1993.
China’s Manufacturing Rebounds
China’s manufacturing sector saw growth in October, with new orders boosting production. Additionally, home prices rose, suggesting economic stability despite global headwinds.
