China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
The U.S. dollar weakened in early Asian trading on Tuesday as investors weighed remarks from Federal Reserve officials on the path of interest rates. The U.S. dollar index slipped to 97.28, extending Monday’s decline after a brief three-day rally.
Market sentiment turned cautious after Fed officials signaled a slower approach to easing monetary policy. St. Louis Fed President Alberto Musalem said the central bank should “tread cautiously,” while Atlanta Fed President Raphael Bostic emphasized inflation remains above the Fed’s 2% target, suggesting no further cuts are needed this year. Cleveland Fed President Beth Hammack echoed similar caution, though none of them vote this year. By contrast, new Fed Governor Stephen Miran warned the Fed risks harming the labor market without deeper cuts.
U.S. Treasury yields ticked higher, with the 10-year at 4.1467% and the two-year at 3.6051%, as traders priced in lower chances of an October cut. Futures implied only a 10.2% chance of a hold, up from 8.1% on Friday, according to CME’s FedWatch tool.
The dollar held steady at 147.74 yen, while the euro traded at $1.1798. Sterling was flat at $1.35125, and the Australian dollar edged down to $0.6599. The kiwi slipped to $0.5867 ahead of a central bank leadership announcement. China’s offshore yuan stayed at 7.1158 per dollar.
Elsewhere, Argentina’s peso surged 4.5% after U.S. Treasury Secretary Scott Bessent suggested possible measures, including swap lines and direct currency purchases, though action would follow talks with Argentine President Javier Milei.
Meanwhile, gold reached a record $3,749.03 per ounce as safe-haven demand strengthened ahead of Fed Chair Jerome Powell’s scheduled remarks later in the day.
