Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Global markets tumbled Friday after weaker-than-expected U.S. jobs data heightened recession concerns and boosted expectations for a Federal Reserve rate cut in September. MSCI’s global equities index fell 1.32% to 917.39, its sharpest drop since mid-April, while the dollar and Treasury yields slid amid economic uncertainty and political turmoil.
The U.S. Labor Department reported only 73,000 nonfarm payroll additions in July, far below forecasts of 110,000. June’s figures were revised sharply down to 14,000 from 147,000. Following the report, President Donald Trump ordered the dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer, a Biden appointee, sparking investor concerns over data integrity. Anxiety deepened as Fed Governor Adriana Kugler announced her early resignation, further fueling volatility in currency and bond markets.
CME’s FedWatch tool showed traders pricing an 87.5% chance of a September rate cut, up from 37.7% the previous day. The dollar index fell 1.37% to 98.66, with the euro climbing to $1.1589 and the yen strengthening to 147.32. U.S. 10-year Treasury yields plunged 14 basis points to 4.22%.
Wall Street mirrored the global sell-off: the Dow Jones dropped 542 points, the S&P 500 fell 1.6%, and the Nasdaq lost 2.24%, its steepest decline since April. Amazon shares sank over 8% after disappointing cloud growth figures.
Adding pressure, Trump announced new tariffs up to 41% on imports from Canada, India, Taiwan, Thailand, and South Korea, with Mexico receiving a temporary reprieve.
Oil prices fell nearly 3% on demand fears and possible OPEC output increases, while gold surged 2% to $3,360 per ounce as investors sought safety amid mounting economic and geopolitical uncertainty.
