Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
The U.S. dollar weakened on Wednesday as soft economic data reinforced expectations that the Federal Reserve will cut interest rates in December. Investors are increasingly betting that the likely next Fed chair could guide monetary policy in a more dovish direction, adding further pressure on the greenback.
The New Zealand dollar strengthened after the Reserve Bank of New Zealand cut rates as anticipated but struck a more hawkish tone on the future path of monetary policy. The kiwi climbed 0.75% to $0.5663, while the Australian dollar edged 0.14% higher to $0.6478 after local inflation data exceeded forecasts.
Recent U.S. figures showed retail sales rising less than expected in September, while producer prices matched market estimates. Consumer confidence also declined in November as households grew more anxious about employment prospects and personal finances. These indicators fueled market expectations of a near-term Fed rate cut, with traders now pricing in an 84% chance of a 25-basis-point reduction, according to the CME FedWatch tool.
The euro advanced toward $1.16, supported partly by signs of progress in a peace framework between Russia and Ukraine. Sterling held steady at $1.3166 as markets awaited a major U.K. budget statement expected to include significant tax increases. Demand for options hedging against pound volatility surged ahead of the announcement.
The dollar index slipped to 99.82, extending its decline from the previous session. Additional downward pressure came from reports that White House economic adviser Kevin Hassett has become the leading contender to replace Fed Chair Jerome Powell. Hassett has previously aligned with President Trump’s push for lower interest rates, reinforcing expectations of a more accommodative Fed leadership.
The weaker dollar offered modest relief to the Japanese yen, which traded at 156.24 per dollar, though still near its recent lows. With U.S. markets quieter ahead of the Thanksgiving holiday, traders warned that Japan could take advantage of thinner liquidity to intervene and support the yen.
