Market Minutes

Read snapshots of the latest market news

Japan data beats but yen still stalls as dollar heads for worst week since mid-year

Stronger Japanese industrial output and retail sales failed to lift the yen, as inflation remains skewed to food and markets keep betting on a December Fed cut. The dollar is set for its weakest week since mid-year, with risk assets in charge and policy clarity still a few key data prints away.

Dollar slips as Fed-cut bets firm and BoJ flags gradual hikes

The dollar stayed soft as markets price another Fed cut before year-end, even as a cautious BoJ signals room for gradual tightening and the ECB warns core inflation needs more cooling. U.S. equities firmed and 10-year yields dipped below 4%, reinforcing pressure on the greenback.

Risk-on tone builds in Asia as December Fed cut bets firm

Dovish Fed pricing kept risk assets bid in Asia, powering NZD and AUD while the yen stayed soft despite chatter of a near-term BoJ move. Focus now swings to the UK Autumn Budget.

December cut mostly priced; markets look to delayed U.S. data for confirmation

With a December Fed cut largely in the price, equities, bonds, and bullion have firmed while the dollar cools only at the margins. The next test is today’s catch-up prints—retail sales and PPI—unlikely to move the needle unless they deliver a genuine surprise.

Nvidia outperforms in Q3; US jobs data

Nvidia reported third-quarter results that comfortably exceeded market expectations for both revenue and earnings per share, reinforcing its leadership in semiconductors and AI compute. At the same time, revised US labour-market data for September were mixed: non-farm payrolls were revised higher, yet the unemployment rate rose above consensus.

Fed minutes reveal splits; odds of rate cuts decline

Minutes of the Federal Open Market Committee revealed a clear division among policymakers, prompting markets to scale back expectations of near-term easing and driving a notable appreciation of the dollar. At the same time, consumer-price inflation in the United Kingdom and euro-area slowed modestly, and oil prices fell despite a larger-than-expected weekly drop in US crude inventories.

Euro stocks fall on policy and valuation uncertainty

European equity markets retreated as investors digested renewed uncertainty over the Federal Reserve’s policy path and lingering concerns about stretched valuations in the technology sector. Softer-than-expected US jobless-claims data reinforced caution, prompting a modest bid for gold as a hedge against policy-driven volatility.

Japan react: GDP dip gives Takaishi case for fiscal stimulus

Japan’s third-quarter GDP slipped more than expected, sharpening the new administration’s argument for fresh fiscal stimulus and adding pressure on the Bank of Japan to move cautiously on tightening. The contraction was driven largely by a sharp housing pullback and softer exports, while underlying domestic demand remained resilient.

Gold drops amid US monetary policy uncertainty

Gold prices fell sharply after hawkish commentary from several Federal Reserve officials reduced the market’s confidence in near-term easing. At the same time, oil rallied following damage to Russian energy infrastructure that disrupted exports. Meanwhile, the activity indicators from China surprised to the downside, prompting modest weakness in Chinese equities.

Fed rate-cut odds drop: markets pull back

Hawkish commentary from several Federal Reserve officials prompted a marked repricing of policy expectations and a sharp correction in equity markets. The market-implied probability of a 25-basis-point cut at the December FOMC meeting fell significantly, and major US indices declined by more than 1.5 per cent.