RABOBANK analyst Jane Foley said the Fed may seek to dampen rate‑hike expectations in its upcoming policy decision. The bank still forecasts a 25bp hike but warns the Fed risks undermining market confidence in further tightening because markets have over‑priced policy tightening for next year. Foley said the dollar could weaken in the near term, but a large sell‑off is unlikely given external vulnerabilities elsewhere — notably limited UK fiscal space and the euro area’s status as an energy impo

EU will propose a new security architecture with allies to counter rising defence threats amid doubts over Trump’s commitment to NATO. Commission President von der Leyen will outline a European Security Council in Strasbourg on Wednesday. The draft would establish an emergency security protocol that, if triggered by a member state, convenes all members to coordinate a European response, and create a new security format to cooperate with partners including Ukraine, the UK, Norway and Canada.

Chinese shares rebounded in choppy trade. Shanghai Composite +0.71%, Shenzhen Composite +1.26%, ChiNext +1.96%, Sci‑Tech Innovation 50 +4.14% at close. Turnover across Shanghai and Shenzhen was 1.84 trillion yuan, up 226.4 billion yuan versus the prior session. More than 4,100 stocks rose. Semiconductors led the advance: Jingsheng up 20% to the daily limit; CPO and memory/storage chip concepts jumped and multiple chip suppliers hit limit-ups (including Lianwei and Youyan Silicon). CRO names were active, with Chengdu Xiandao up over 14%. Fujian regional stocks rallied, with several limit-ups including Fujian Jinsen and Mindong Power. Other top gainers included lithography-related names, batteries, precious metals and securities; autos, livestock and banks underperformed.