PT Solid Gold Berjangka | Dollar Bobs Near 7-Week High After Strongest Week in Two Years
US DOLLAR SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB
Solid Gold Berjangka | The U.S. dollar hovered near a seven-week high on Monday as investors reassessed their positions following Friday’s strong U.S. jobs data and amid rising tensions in the Middle East.
The closely-watched jobs report for September showed the biggest jump in payrolls for six months, a drop in the unemployment rate and solid wage rises, prompting markets to scale back bets on further hefty U.S. rate cuts.
The dollar index was down 0.06% at 102.47, having risen on Friday to 102.69, its highest level since mid August. The dollar logged a weekly gain of more than 2% last week, its biggest in two years.
The dollar was last down 0.37% at 148.08 yen .
In the Middle East, Hezbollah fired rockets at Israel’s third largest city Haifa early on Monday as Israeli forces looked poised to expand ground incursions into southern Lebanon on the first anniversary of the Gaza war, which has spread conflict across the Middle East.
The euro stood was flat at $1.097575 , after German industrial orders fell significantly more than expected in August, adding to signs that manufacturing in Europe’s largest economy remains in the doldrums.
Sterling fell 0.34% to $1.30790.
Sterling recorded its biggest daily fall last week since April after Bank of England Governor Andrew Bailey was quoted as saying the central bank might move more aggressively to lower borrowing costs.
Markets expect the Federal Reserve to cut rates by just 25 bps in November, rather than 50 bps, following the jobs data. According to CME’s FedWatch tool, markets are pricing in a 85% chance of a quarter point cut, up from 47% a week ago, and a slim prospect of no cut at all.
The yield on benchmark U.S. 10-year notes hit its highest level since in 2 months at 4.030% in New York trade. It was last up 4.3 basis points to 4.024%.
Source : Reuters