The BoJ held rates at 0.5%, with two members pushing for hikes, while the ECB paused, citing confidence in current policy and inflation near 2%. The yen weakened, EUR/USD fell toward 1.15, and gold remained volatile near $4,000.

At the APEC summit, Trump and Xi agreed to reduce tariffs, resume U.S. soybean purchases, and ease rare earth export curbs, though no progress was made on tech disputes. The deal improved global sentiment but left key issues unresolved.

• Bitcoin fell toward $106,500, extending its recent decline.
• Brent crude held above $65, supported by steady demand despite mixed supply signals.
• Major U.S. tech firms ramped up AI-related spending to record levels of over $380 billion, led by Amazon, Microsoft, Alphabet, and Meta.
• The ECB advanced its digital euro project, targeting a pilot phase in 2027 and possible rollout by 2029.
• The U.S. moved closer to crypto regulation through the CLARITY and GENIUS Acts, aimed at defining oversight and stablecoin frameworks.

Economic data showed Eurozone GDP up 1.3%, inflation easing to 2.1%, Japan’s jobless rate steady at 2.6%, and Eurozone unemployment at 6.3%. Markets expect continued policy restraint, with upcoming focus on U.S. ISM PMIs, ADP jobs, and BoE and RBA rate decisions next week.

Please take a look at the file below for a detailed analysis.