Asia FX weakens amid Fed rate caution; US jobs data awaited

Oil prices experienced their largest decline in a week as U.S. fuel inventories increased. Investors are closely watching the potential impact of upcoming sanctions on two major Russian oil producers, which are set to take effect on Friday.

New York City's transit network, the largest in the US, plans to reduce its operating budget deficits by $418 million over the next three years. This will be achieved through expense cuts and a potential recovery in real estate tax collections.

TotalEnergies CEO Patrick Pouyanne cautioned European nations against becoming overly dependent on US liquefied natural gas (LNG) as they seek to reduce reliance on Russian supplies. He emphasized the need for Europe to diversify its energy sources to ensure stability and security in the face of ongoing geopolitical tensions.

The Federal Reserve's minutes indicate widespread support among officials for ending quantitative tightening, signaling a potential shift in monetary policy. This development reflects a consensus on the need to adapt to changing economic conditions and may influence future interest rate decisions.

Treasury yields increased as Federal Reserve officials indicated a likelihood of pausing interest rate cuts on December 10. This rise in yields reflects growing uncertainty in the market regarding future monetary policy decisions.

Federal Reserve members are experiencing significant divisions regarding a potential interest rate cut in December, reflecting deepening disagreements on monetary policy. This divergence among officials may impact future economic strategies and investor confidence as they weigh various economic indicators.

Former President Donald Trump expressed a strong desire to dismiss Federal Reserve Chair Jerome Powell, stating, "I’d love to fire his ass." This remark underscores Trump's ongoing criticism of the Fed's monetary policy, particularly its interest rate decisions.

Aramco has signed preliminary deals with the United States valued at over $30 billion. This agreement marks a significant step in strengthening economic ties between the two nations, particularly in the energy sector. The deals are expected to enhance collaboration and investment opportunities.