Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Philippine GDP Growth Slows to 2.3% in Q2 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
US Stock Futures Rise as Markets Await July Payrolls Data 
Iran-Oman Near Strait of Hormuz Deal as Shipping Tensions Persist 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US dollar gained momentum after better than expected US ISM manufacturing PMI . It hits a high of 106.73 and is currently trading around 106.52.
Manufacturing Insights: Signs of Improvement Amid Contraction
The US ISM Manufacturing PMI for November 2024 rose to 48.4, up from 46.5 in October, showing slight improvement but still indicating contraction for the eighth month. The New Orders Index increased to 50.4, suggesting weak growth, while the Employment Index improved to 48.1. Price pressures eased, with the Prices Paid Index dropping to 50.3. Overall, the US Dollar strengthened following these mixed but hopeful manufacturing reports.
Political Crisis in France: Euro Faces Headwinds
Euro lost its shine amid France's political crisis. It is facing a serious political crisis with Prime Minister Michel Barnier's minority government at risk of collapsing due to a no-confidence vote.
His proposed €60 billion budget to reduce the deficit is encountering strong opposition from both right and left-wing parties. To bypass this, Barnier used a controversial method to pass a social security budget, prompting more opposition challenges. The political turmoil has raised concerns about France's financial stability, affecting its bond yields and raising questions about future governance.
