PT Solid Gold Berjangka | Currency Market Subdued Ahead of fresh US Economic Data

02:25 14 March in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

DOLLAR Currency Yen Euro Sterling, Poundsterling USD/JPY, PT SGB Solid Gold Berjangka SG Berjangka Solid Group

Solid Gold Berjangka | the recent market update. Here’s a summary:

  • U.S. Dollar Consolidation: The U.S. dollar was relatively stable against major peers as traders awaited more economic data from the United States, particularly after the recent CPI data raised concerns about persistent inflation. There is speculation on whether the Federal Reserve will proceed with interest rate cuts at the upcoming June meeting.
  • Dollar Index: The dollar index, which compares the dollar to a basket of six other currencies, remained mostly unchanged at 102.77.
  • Upcoming U.S. Data: Market focus is on upcoming U.S. retail sales data, the producer prices index (PPI) report, and jobless claims for indications of the economy’s trajectory.
  • USD/JPY: The dollar was steady against the yen at 147.69 yen. The Bank of Japan’s monetary policy meeting on March 18-19 is approaching, and there are discussions about the possibility of exiting negative interest rates.
  • Euro (EUR/USD): The euro held firm against the dollar at $1.0949. Investors are awaiting remarks from European Central Bank officials.
  • British Pound (GBP/USD): The pound was flat at $1.2796. Recent data showed that the UK economy returned to growth in January after a slight recession in the latter part of 2023.

These updates provide insights into the current state of the currency market, highlighting key factors influencing major currency pairs.