PT Solid Gold Berjangka | Dollar poised for weekly decline; US jobs data up next

02:43 02 February in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Indeks Dolar USD PT SGB Solid Group SG Berjangka Solid Gold Berjangka

Solid Gold Berjangka | This passage provides a snapshot of the financial markets, particularly focusing on the movement of the U.S. dollar and other major currencies. Here’s a summary:

  1. Dollar Decline: The U.S. dollar experienced a broad decline, influenced by positive risk sentiment attributed to strong earnings reports from big tech companies on Wall Street.
  2. Tech Earnings Impact: The positive sentiment was largely driven by upbeat earnings in the technology sector. This resulted in a decline in the dollar, as investors appeared more willing to take on risk.
  3. Focus on Jobs Data: Traders were eagerly awaiting the release of the nonfarm payrolls report, which would provide insights into the U.S. job market. The data was expected to influence the Federal Reserve’s decision on interest rates.
  4. Fed’s Stance: The Federal Reserve had recently kept interest rates steady, with Chair Jerome Powell pushing back against market expectations of rate cuts in March.
  5. Dollar Index and Weekly Performance: The dollar index, measuring the dollar against a basket of currencies, was on track for its first weekly decline of the year, standing at 103.02.
  6. Aussie and Kiwi Performance: The Australian dollar gained 0.17%, influenced by the overall positive mood. The New Zealand dollar also rose by 0.07%, set for a weekly rise of nearly 1%.
  7. Yen and Sterling Movement: The Japanese yen gained 0.1%, poised for a weekly gain of nearly 1.3%. Sterling rose by 0.09% to $1.2754.
  8. Bank of England’s Decision: The Bank of England (BoE) maintained interest rates at a nearly 16-year high but hinted at the possibility of cutting rates due to falling inflation.
  9. Euro Performance: The euro edged 0.07% higher to $1.0879 and was set for a weekly gain of more than 0.25%. Eurozone inflation data suggested that rate cuts might not be rushed, according to the European Central Bank.

In summary, the overall market sentiment was positive, influencing the decline of the U.S. dollar and impacting various currencies. Traders were closely monitoring economic indicators, especially the nonfarm payrolls report and central bank decisions.