
PT Solid Gold Berjangka | Dollar Slumps as Fed Cuts Eyed; Aussie Buoyant ahead of Inflation Data
DOLLAR Currency Yen Aussie Solid Gold Berjangka, SG Berjangka, Solid Group, PT SGB
Solid Gold Berjangka | The provided information is a snapshot of the foreign exchange market, particularly the movement of the US dollar against various currencies. Here are the key points:
- Dollar’s Decline: The US dollar experienced a broad decline, reaching its lowest point against the Japanese yen in over two months. It also lingered near a three-month low against other major currencies.
- Fed Rate Cut Expectations: There is a growing expectation in the market that the Federal Reserve (Fed) might start lowering interest rates by early next year. This anticipation is contributing to the weakening of the US dollar.
- Australian and New Zealand Dollars: The Australian dollar held close to a four-month high, and the New Zealand dollar reached a roughly four-month peak. Traders are closely watching Australian inflation data and the Reserve Bank of New Zealand’s rate decision for further market cues.
- Euro’s Strength: The euro gained ground against the dollar, rising above $1.10.
- Fed Governor’s Comments: The decline in the dollar was influenced by comments from Fed Governor Christopher Waller, who is considered a hawkish and influential figure within the central bank. Waller suggested the possibility of a rate cut in the coming months.
- Dollar Index Performance: The US dollar, measured against a basket of currencies, fell to a more than three-month low, with the dollar index potentially facing a nearly 4% loss for November. This would mark its worst monthly performance in a year.
- British Pound: Sterling was trading near a three-month high against the dollar.
- Australian Dollar Focus: Traders are paying attention to Australian inflation data for insights into potential future rate hikes by the Reserve Bank of Australia.
This information provides a snapshot of the market conditions, with the US dollar facing downward pressure amid expectations of a shift in Fed monetary policy. It also highlights the strength of other currencies, including the euro, Australian dollar, and New Zealand dollar, in this context.