A Not-So-Hawkish Fed Cut – We Maintain Our Call.In Norway, the Regional Survey is due for release. We expect it to confirm that growth continues to rise at a moderate pace, with capacity utilization largely unchanged and indicate that the level of activity is somewhat below normal.

Australia jobs shock as employment drops -21.3k in November.Australia's November labor data delivered a downside surprise, with employment falling by -21.3k against expectations for a 20k increase. The weakness was driven by a sharp -56.5k drop in full-time positions, partly offset by a 35.2k rise in part-time roles.

Bullish views rise on most Asia currencies, Indian rupee shorts spike: Reuters poll.Analysts ramped up long bets on most Asian currencies on stronger growth prospects and weakness in the greenback, a Reuters poll showed on Thursday, while short positions on the Indian rupee surged to a 10-month high.

Dollar Index (DXY) Bearish Sequence Targets 97.7.The Dollar Index (DXY) has broken decisively below the December 4 low at 98.76, establishing a clear bearish sequence from the November 21 peak. This structural decline favors continued downside momentum.

Rupee weakens as corporate dollar outflows eclipse Fed boost.The Indian rupee weakened today due to corporate dollar payments, overshadowing the Federal Reserve's rate cut. Traders are watching for a potential trade deal with the U.S. and a significant Reserve Bank of India swap next week, which could influence the currency's trajectory amidst ongoing external sector challenges.

FOMC Perceive Their Goals to be Within Reach, But Risks Remain.The FOMC cut the fed funds rate by 25bps to a midpoint of 3.625% at their December meeting as the market had hoped. However, the Committee held to September's projection of just one more cut in 2026 and another in 2027 to a broadly neutral rate of 3.125% by end-2027 compared to the market's expectation for a return to neutral policy by end-2026.

AUD/JPY tumbles to near 103.50 on mixed Australian employment data.AUD/JPY tumbles to near 103.50 on mixed Australian employment data

Fed signals pause on rate cuts as investors navigate data darkness and leadership change.After three consecutive interest rate cuts, investors now confront an uncertain U.S. monetary policy outlook for the year ahead, clouded by persistent inflation, data gaps, and an impending leadership change at the Federal Reserve.

Trump plans envision major U.S. investment in Russia, restoring oil flows to Europe, WSJ says.U.S. President Donald Trump's plan for peace in Ukraine includes proposals to restore Russian energy flows to Europe, major U.S. investment in Russian rare earths and energy, and tapping frozen Russian sovereign assets, the Wall Street Journal said.

Oil and Natural Gas Technical Analysis As Crude Falls and Gas Holds Bullish Trend.WTI crude oil extended losses on supply glut fears and weak demand, while natural gas maintained a bullish structure supported by strong fundamentals and geopolitical tensions.

China Outlook Brightens as Yuan Firms and CSI 300 Targets Year-End Rally.CSI 300 climbs on China's economic resilience, IMF growth upgrades, and renewed stimulus signals, while the Hang Seng lags amid weak technical momentum.

BOJ to hike rates to 0.75% in Dec, 1.0% by next Sept, majority of economists say.The Bank of Japan will proceed with a 25-basis-point interest rate hike to 0.75% at its December meeting and raise borrowing costs to at least 1% by the end of September next year, a strong majority of economists said in a Reuters poll published on Thursday.

Japanese Yen extends gains vs bearish USD amid hawkish BoJ stance, dovish Fed outlook.Japanese Yen extends gains vs bearish USD amid hawkish BoJ stance, dovish Fed outlook

Rupee likely to open higher as Fed outlook pushes back dollar.The Indian rupee is expected to open stronger on Thursday, tracking gains in Asian peers after an anticipated U.S. Federal Reserve rate cut and a less-hawkish-than-feared outlook triggered a broad retreat in the dollar.

US Dollar Index softens to near 98.50 post-Fed rate cut, Jobless Claims data in focus.US Dollar Index softens to near 98.50 post-Fed rate cut, Jobless Claims data in focus

BOC Holds at 2.25% As Canadian Economy Shows Resilience Despite Trade Uncertainty.BOC held at 2.25% as trade swings shaped the outlook, keeping CAD steady while traders waited for clearer signals from Gov. Macklem.

WTI loses ground below $59.00 amid Ukraine peace deal talks.WTI loses ground below $59.00 amid Ukraine peace deal talks

FOMC Delivered 0.25% “Hawkish Cut” in Historic 9-3 Vote.The Fed cut interest rates by 25bp as expected in their December decision, with policymakers signaling a higher bar for further easing. Here's how USD reacted.

Dollar slides as Fed dents hawks, markets eye two more rate cuts.The dollar fell on Thursday after the Federal Reserve delivered an outlook that was not as hawkish as some had anticipated, giving investors confidence to short the currency as they bet on two more rate cuts next year.

Breaking: Australia's Unemployment Rate steadies at 4.3% in November vs. 4.4% expected.Breaking: Australia's Unemployment Rate steadies at 4.3% in November vs. 4.4% expected

Australia jobs drop 21,300 in November, unemployment steady.Australian employment fell by the most nine months in November as full-time jobs more than reversed a large increase the previous month, while the unemployment rate held steady as fewer people went looking for work.

Australia Part-Time Employment up to 35.2K in November from previous -13.1K.Australia Part-Time Employment up to 35.2K in November from previous -13.1K

AUD/JPY outlook: Jobs volatility puts RBA repricing in focus.AUD/JPY has ridden a wave of risk appetite and hawkish RBA repricing, but the rally faces a critical test with Australia's jobs report. With bullish positioning stretched and technical signals flashing caution near 104.00, even a marginally weak print could trigger a sharp reversal.

United Kingdom RICS Housing Price Balance above forecasts (-21%) in November: Actual (-16%).United Kingdom RICS Housing Price Balance above forecasts (-21%) in November: Actual (-16%)

The Fed vs. AI.The Fed vs. AI

Japan BSI Large Manufacturing Conditions Index (QoQ) came in at 4.7, above forecasts (4.1) in 4Q.Japan BSI Large Manufacturing Conditions Index (QoQ) came in at 4.7, above forecasts (4.1) in 4Q

USD/JPY slumps to near 156.00 after Fed cuts rates.USD/JPY slumps to near 156.00 after Fed cuts rates

Canadian Dollar makes fresh headway following another Fed rate cut.Canadian Dollar makes fresh headway following another Fed rate cut

Trading Day: Market gives Fed resounding cheer.The dollar sank and Wall Street rallied on Wednesday, with the small-cap Russell 2000 index surging to new highs, after the Fed cut interest rates and Chair Jerome Powell offered a positive outlook on the path for growth and inflation.

FOMC: Maintaining Optionality.As expected, the FOMC reduced the fed funds target range by 25 bps to 3.50%-3.75% at the conclusion of its December meeting. As was also anticipated, the decision was not unanimous.