UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
The U.S. dollar regained strength in early Asian trading on Thursday after the Supreme Court announced it would hear arguments in January regarding former President Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook. With Cook remaining in her position for now, market fears over the Fed’s independence have temporarily subsided. Analysts noted that this reduces short-term political risk for the central bank, allowing traders to shift focus back to economic data and the ongoing U.S. government shutdown.
The dollar index, which tracks the greenback against a basket of major currencies, rose 0.1% to 97.80, rebounding after four consecutive days of losses. Market watchers highlighted that the prolonged government shutdown has disrupted the release of key federal economic data, creating a “void” until at least October 13. This gap has left investors relying on private data such as ADP’s payroll report, which showed U.S. private sector jobs unexpectedly fell by 32,000 in September following a revised 3,000 decline in August.
The shutdown has intensified political divisions, with the Trump administration freezing $26 billion earmarked for Democratic-leaning states. Betting markets such as Polymarket suggest the standoff could last one to two weeks, though odds of a longer shutdown remain significant.
Meanwhile, the Federal Reserve is widely expected to cut interest rates at its October meeting, with futures pricing in a near-certain 25 basis point reduction. Manufacturing activity showed modest improvement last month, but weak new orders and hiring reflect continued pressure from tariffs and policy uncertainty.
In commodities, gold eased 0.2% to $3,857.09 per ounce after recent record highs. The dollar climbed to 147.305 yen and 7.13 offshore yuan, while the euro slipped to $1.1725. Sterling traded steadily at $1.3474, and the Australian and New Zealand dollars saw limited movement in early Asia.
This combination of political risk, central bank speculation, and economic uncertainty ensures that currency markets remain volatile as traders await clarity from Washington and the Fed.
