PT Solid Gold Berjangka | Dollar Slumps as Fed Cuts Eyed; Aussie Buoyant ahead of Inflation Data

01:21 29 November in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

DOLLAR Currency Yen Aussie Solid Gold Berjangka, SG Berjangka, Solid Group, PT SGB

Solid Gold Berjangka | The provided information is a snapshot of the foreign exchange market, particularly the movement of the US dollar against various currencies. Here are the key points:

  1. Dollar’s Decline: The US dollar experienced a broad decline, reaching its lowest point against the Japanese yen in over two months. It also lingered near a three-month low against other major currencies.
  2. Fed Rate Cut Expectations: There is a growing expectation in the market that the Federal Reserve (Fed) might start lowering interest rates by early next year. This anticipation is contributing to the weakening of the US dollar.
  3. Australian and New Zealand Dollars: The Australian dollar held close to a four-month high, and the New Zealand dollar reached a roughly four-month peak. Traders are closely watching Australian inflation data and the Reserve Bank of New Zealand’s rate decision for further market cues.
  4. Euro’s Strength: The euro gained ground against the dollar, rising above $1.10.
  5. Fed Governor’s Comments: The decline in the dollar was influenced by comments from Fed Governor Christopher Waller, who is considered a hawkish and influential figure within the central bank. Waller suggested the possibility of a rate cut in the coming months.
  6. Dollar Index Performance: The US dollar, measured against a basket of currencies, fell to a more than three-month low, with the dollar index potentially facing a nearly 4% loss for November. This would mark its worst monthly performance in a year.
  7. British Pound: Sterling was trading near a three-month high against the dollar.
  8. Australian Dollar Focus: Traders are paying attention to Australian inflation data for insights into potential future rate hikes by the Reserve Bank of Australia.

This information provides a snapshot of the market conditions, with the US dollar facing downward pressure amid expectations of a shift in Fed monetary policy. It also highlights the strength of other currencies, including the euro, Australian dollar, and New Zealand dollar, in this context.