PT Solid Gold Berjangka | Dollar eases after hitting highest in almost two weeks, US job data looms
USD/JPY PT SGB SOLID GOLD BERJANGKA SOLID GROUP SG BERJANGKA
Solid Gold Berjangka | Investors are turning their attention to the U.S. jobs report scheduled for later this week.
The U.S. jobs report to be released on Friday will be extremely important after Federal Reserve Chairman Jerome Powell shifted his focus from fighting inflation to preparing to prevent job losses.
Analysts say the jobs report will determine the extent of the Federal Reserve’s interest rate cuts. The market has already been factoring in a 25 basis point rate cut for several weeks.
Inflation data suggesting a smaller rate cut and gross domestic product (GDP) suggesting the economy is strong enough to give the Federal Reserve room to reduce easing have sent long-term Treasury yields to their highest level since mid-August, and the greenback to its highest level since August 20.
Traders now give a 33% probability that the Fed will cut rates by 50 points this month. A week earlier, 36% expected a wider rate cut.The dollar index against the six major economies was down 0.10% to 101.65 after hitting 101.79, its highest level since August 20.
The euro rose to $1.1062 after hitting $1.1043, its lowest level since August 19.On the European political scene, the “Alternative for Germany” (AfD) is projected to become the first far-right party to win German regional elections since World War II.
Source Reuters