Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
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.
