PT Solid Gold Berjangka | Dollar Droops as Key US Data Looms; Yen Firms on CPI Beat

03:24 27 February in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Indeks Dolar Yen Euro Dolar AS Dolar Australia, Poundsterling PT SGB Solid Gold Berjangka SG Berjangka Solid Group

Solid Gold Berjangka | Here’s a summary of the key points from the Reuters article:

  • USD Trading: The dollar was weaker, with the U.S. Dollar Index (DXY) trading flat at 103.78. Markets are watching for U.S. economic data to gauge when the Federal Reserve might cut interest rates.
  • Yen Strength: The yen firmed slightly after Japan’s consumer inflation held steady at the Bank of Japan’s 2% target.
  • Fed Rate Cut Expectations: Markets have pushed back expectations for a Fed rate cut to June from May, following strong U.S. consumer and producer price data. A cut at the March meeting is considered unlikely.
  • Upcoming Data: U.S. durable goods data was due, and the January U.S. personal consumption expenditures price index (Fed’s preferred inflation measure) will be released Thursday.
  • FX Strategy: Westpac’s head of FX strategy noted that while the dollar index has been soft, upcoming events could drive another leg up for the USD.
  • Australian and New Zealand Dollars: Both AUD and NZD were weaker. AUD lost 0.1% to $0.6533, and NZD eased 0.2% to $0.6161. Traders are preparing for a significant RBNZ meeting, with a chance the RBNZ might raise its official cash rate to combat inflation.
  • Bitcoin: Bitcoin reached a more than two-year peak of $54,969, following news that MicroStrategy Inc. had bought about 3,000 more tokens.
  • Japanese Yen: The dollar slipped against the yen to 150.54 yen, partly due to a slightly higher-than-expected reading for Japan’s January consumer price index (CPI).
  • Euro and Sterling: The euro was steady at $1.0847, while sterling was flat at $1.26825.

This summary captures the main points regarding currency movements, market expectations, and upcoming economic events as reported by Reuters.