Taiwan’s cabinet warned on Monday the island’s security might be at risk after opposition parties passed laws that will require cuts in government spending, including defence, at a time when China has ramped up military activity nearby.
Asian currencies were nursing steep losses against the dollar from last week, although they trimmed some declines on Friday after the soft inflation data. The outlook for regional markets also remains clouded by uncertainty over U.S. interest rates and policy under incoming President Donald Trump.
Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing,” IG markets analyst Tony Sycamore said, adding that cooler inflation data helped alleviate concerns following the Federal Reserve’s hawkish rate cut.
Bitcoin edged lower on Monday and traded in a narrow range after clocking steep losses last week, as traders remained cautious amid macroeconomic pressures induced by hawkish comments from the Federal Reserve.
Gold Futures for February delivery was down 0.06% or 1.70 to $2,643.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 0.50% or 0.35 to hit $69.81 a barrel, while the March Brent oil contract rose 0.45% or 0.33 to trade at $72.89 a barrel.
