Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
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 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
The U.S. dollar opened December on weaker footing as global investors prepared for a pivotal month marked by a potential final Federal Reserve rate cut of the year and growing expectations for a dovish successor to Fed Chair Jerome Powell. Currency markets in Asia were particularly focused on Bank of Japan (BOJ) Governor Kazuo Ueda’s upcoming speech, which could offer clues on whether Japan is ready to shift toward a rate hike to help stabilise the yen.
Following last week’s hours-long outage at CME Group that disrupted global trading across major asset classes, foreign exchange markets were back in full action on Monday. Even so, price movements were limited as traders awaited key data releases and policy signals expected throughout December.
The Japanese yen extended earlier gains after fresh data showed corporate investment rose 2.9% in the July–September period compared to the previous year. The figure suggested Japan’s economy is managing the impact of U.S. tariffs better than expected. The yen strengthened 0.2% to 155.84 per dollar, moving away from last month’s 10-month low of 157.90—a level that had prompted speculation of possible intervention. Japan’s Finance Minister Satsuki Katayama reiterated concerns over recent “erratic” currency swings, saying they were not aligned with economic fundamentals.
Analysts expect Ueda may use his speech to guide markets toward a potential December rate hike, especially as officials have increasingly expressed concern about rapid yen depreciation. Meanwhile, the euro edged up to $1.1600, and the British pound held steady at $1.3240 after gaining broadly last week following the release of the UK’s long-awaited budget.
Market attention remained fixed on U.S. monetary policy, with traders pricing in an 87% chance of a 25-basis-point Fed rate cut next week. Reports naming White House economic adviser Kevin Hassett as the leading candidate for the next Fed chair also weighed on the dollar, which slipped to 99.42 against a basket of currencies.
In the crypto market, bitcoin fell 3.6% to $87,881.82, while ether dropped 5% to $2,871.59 as broader risk sentiment remained cautious.
