IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Oil prices climbed in Asian trading on Friday, rebounding slightly after recent declines as a weaker U.S. dollar offered temporary relief. However, fears of oversupply and slowing global demand continued to weigh on the market, keeping crude on track for its second consecutive weekly loss.
Brent crude futures for January rose 0.4% to $63.65 per barrel, while West Texas Intermediate (WTI) crude gained 0.4% to $59.54 by 20:08 ET (01:08 GMT). Despite the short-term boost, both benchmarks remained set for weekly declines of about 2.3% and 1.8%, respectively, reflecting persistent bearish sentiment in the energy market.
The dollar’s weakness provided brief support for oil prices. A softer greenback makes dollar-denominated commodities more affordable for international buyers, encouraging demand. The currency slipped after private economic data indicated cracks in the U.S. labor market, fueling speculation that the Federal Reserve might consider a rate cut in December. With the prolonged U.S. government shutdown delaying key economic reports, traders turned to private indicators for guidance, heightening uncertainty over the nation’s economic outlook.
Still, concerns over a cooling U.S. economy limited oil’s upside potential. The world’s largest consumer of fuel faces potential demand disruptions as the shutdown continues to affect key sectors, including air travel. The Trump administration’s decision to reduce flights by 10% across 40 major airports added to worries about weaker fuel consumption.
Meanwhile, oversupply fears persisted after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) increased production by 3 million barrels per day in 2025. Although the group pledged to pause further hikes in early 2026, traders expect markets to remain well-supplied next year. Additionally, U.S. inventory data showing a surprise stockpile build reinforced the bearish outlook for crude prices.
