Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Europe’s AI Data Centre Boom Strengthens Case for Nuclear Power 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Trump, Xi Focus on Trade and AI at White House Summit 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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Dollar Stabilizes, Offering Relief to Global Currencies
The U.S. dollar paused its rally on Wednesday, providing relief to major currencies like the yen, following last week's sharp rise to a seven-week high. Investors are reassessing the U.S. interest rate path amid a relatively light economic data calendar this week.
Kiwi Hits Low After RBNZ Holds Rates
The New Zealand dollar slumped to $0.6096, its lowest since August 19, after the Reserve Bank of New Zealand (RBNZ) opted to keep interest rates unchanged at 5.50%. The Kiwi was last down 0.55%, trading at $0.61035. The RBNZ had previously started an easing cycle in August to reduce rates from 15-year highs.
U.S. Dollar Outlook: Inflation and Earnings Key
Market attention now shifts to Thursday's Consumer Price Index (CPI) report, which is expected to drive the next phase of the dollar's movement. Following stronger-than-expected jobs data last week, markets have scaled back expectations for significant interest rate cuts by the Federal Reserve in November. However, a quarter-point reduction remains a possibility.
Global Currencies Respond
The dollar index remained stable at 102.490, near its recent high of 102.69. The euro held firm at $1.0977, while the British pound traded at $1.3101. Meanwhile, the Australian dollar struggled, down 0.08% at $0.67415.
China's Economic Outlook
In China, despite economic concerns, Beijing expressed confidence in meeting its annual growth targets. However, investors remain cautious as no additional fiscal support measures were announced, leaving the offshore yuan stable at 7.0695 per dollar.
