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PT Solid Gold Berjangka | Dollar Holds Tight as Fed Rate Cut Bets Strengthen

07:06 04 December in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP by admin_sgb_tcc
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USD GBP/USD EUR/USD USD/JPY, AUD/USD, SOLID GROUP, SG BERJANGKA, PT SGB

Solid Gold Berjangka | The provided text outlines recent developments in the financial markets, particularly focusing on the U.S. dollar and Bitcoin. Here’s a summary:

  1. Federal Reserve’s Cautious Stance: Federal Reserve Chair Jerome Powell expressed a cautious outlook on U.S. monetary policy, stating that it was slowing the economy as expected. While Powell mentioned the Fed’s readiness to tighten policy if needed, traders seemed convinced that the rate-hike cycle was over.
  2. Market Expectations: Traders were pricing in a 60% chance of a rate cut by the March meeting, a significant increase from 21% just over a week ago, according to the CME’s FedWatch tool. This shift in expectations could impact the U.S. dollar.
  3. U.S. Dollar Performance: The U.S. dollar index, which measures the currency against six major counterparts, slightly picked up but remained close to Friday’s close. Against the Japanese yen, the dollar recovered from earlier losses. The Australian dollar rose to a four-month high against the greenback, while the kiwi fell slightly. Sterling edged off a three-month high against the dollar.
  4. Bitcoin’s Rise: Bitcoin returned to the spotlight by reaching the $40,000 level for the first time in over a year. The cryptocurrency market’s performance can sometimes be inversely correlated with traditional currencies like the U.S. dollar.
  5. Upcoming Economic Events: The text highlights the importance of upcoming U.S. economic data, especially the November jobs report, which could influence the outlook for U.S. interest rates. Additionally, speeches from European Central Bank (ECB) officials, including ECB President Christine Lagarde, may impact currency markets.
  6. Eurozone Concerns: The euro slipped in response to data showing a fall in Eurozone inflation to 2.4% in November. This has led to speculation that the ECB might consider cutting interest rates sooner than previously suggested.

In summary, the text underscores the cautious stance of the Federal Reserve and the potential impact on the U.S. dollar. It also mentions the resurgence of Bitcoin and upcoming economic events that could influence global currency markets.

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