Web Trader MT5 
Asia-Pacific markets rose on Wednesday, tracking Wall Street gains as expectations grew for a possible U.S. Federal Reserve rate cut in December. Sentiment improved after reports that Kevin Hassett is the leading candidate for the next Fed chair, and comments from Treasury Secretary Scott Bessent suggested an appointment could come before Christmas. Markets now price in over an 85% chance of a December cut of 25 basis points.
The Nikkei 225 surged 1.9%. South Korea’s Kospi jumped 1.8%, Australia’s ASX 200 rose 0.8% despite hotter-than-expected inflation, Hong Kong’s Hang Seng added 0.2%, and China’s CSI 300 gained 0.4%.
Australia’s inflation accelerated in October, rising 3.8% year-on-year, its fastest pace in seven months and above expectations of 3.6%. Despite the monthly CPI being flat from September, the data reinforces concerns about sticky inflation. The Reserve Bank of Australia recently held rates at 3.6% and signaled that the cutting cycle may be near its end, with inflation expected to stay above target until late 2025 and only return to the 2–3% range by 2027. The ASX 200 rose 0.7%, the AUDUSD rose to 0.6510.
On Tuesday, US indices posted a third straight winning session. The Dow jumped 1.4% during the day, boosted by gains in tech stocks. Alphabet hit record highs on reports that Meta may use its TPU chips, while Nvidia fell over 2.5%. Markets continue to watch factors that could influence the Federal Reserve’s next move.
In the Forex market, The U.S. Dollar Index (DXY) fell to 99.60 in Asian trading as markets increased their expectations of a Federal Reserve rate cut in December. Softer U.S. data reinforced this view: September retail sales rose only 0.2% (below 0.4% expected), and core PPI eased to 2.6% year-over-year. Labor data also weakened, with ADP showing private employers cut an average of 13,500 jobs in the four weeks ending November 8.
Gold benefited from the decline in the Dollar index. The precious metal reached a high of $4,169 per ounce today. Silver broke above $52.00 in the morning hours, before retreating to $51.90.
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