The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.822, marking a third consecutive day of gains. The market now awaits the release of the US CPI later tonight (WIB) for confirmation of its next direction.
Market participants consider a 25 bps cut at the September 16-17 meeting almost certain. The chance of a 50 bps cut is only around 8%. Analysts' comments suggest the "benign" PPI result is in line with market pricing, shifting focus to the CPI to determine the size of the interest rate cut.
On the policy front, the White House is appealing a judge's ruling blocking President Donald Trump's attempt to fire Governor Lisa Cook. Meanwhile, Stephen Miran's nomination is advancing in the Senate Banking Committee, although it is unlikely to be finalized in time for this Fed meeting.
In the currency market, USD/JPY was flat at 147.41 after Japanese wholesale prices rose 2.7% year-on-year in August. The euro strengthened slightly to $1.1698 ahead of the ECB's expected interest rate decision. The Australian dollar traded at $0.66165, supported by a commodity rally; the offshore yuan at 7.1184; the New Zealand dollar at $0.59375; and the British pound at $1.3527. European geopolitics remained in the background, including reports that Poland shot down a suspected Russian drone. (ayu)
Source: Newsmaker.id
The dollar headed for its worst week since late July on Friday (October 3rd) as the US government shutdown heightened uncertainty, while the yen weakened from this week's high as traders considered th...
The dollar weakened near a one-week low on Thursday as traders weighed the impact of the US government shutdown, while poor jobs data raised expectations that the Federal Reserve would cut interest ra...
The U.S. dollar slid to two-week lows against the yen on Wednesday after data showed private-sector jobs in the world's largest economy contracted last month, boosting expectations the Federal Reserve...
The dollar index fell to its lowest level in the session as U.S. corporate payrolls unexpectedly fell in September and traders increased bets on two interest rate cuts by the Federal Reserve this year...
The US dollar continued to weaken, approaching its lowest level in a week as uncertainty over a possible US government shutdown looms. If the US government does shut down, the release of key data, suc...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
European stocks extended gains on Friday, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.3% to fresh record highs, as optimism around...
The business activity in the US service sector stagnated in September, with the Institute for Supply Management's (ISM) Services Purchasing Managers...
Asia-Pacific markets opened mostly higher Friday, tracking Wall Street gains as investors shrugged off the U.S. government shutdown.
Investors are...