Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
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 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
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.
