According to the latest reports, the US dollar weakened against many major world currencies after disappointing US economic data reinforced speculation that the Federal Reserve (The Fed) will cut interest rates in the near future.
This dollar weakening provided a boost to "riskier" currencies and emerging market currencies, such as the South African currency, which appreciated today.
Furthermore, stock indices in Asia also rose as investors regained their comfort in taking risks after lingering doubts about the US economy.
This situation has led to a positive response from safe-haven assets like gold: global gold prices rose to near two-week highs, as many investors shifted from the dollar to the precious metal.
Furthermore, global stock markets, including those in Asia, Europe, and the US, demonstrated a strong rally. Major US, European, and Asian stock indices rose, indicating optimism that global monetary easing will boost economic growth.
With weakening currencies, potentially lower global interest rates, and abundant liquidity, many investors are taking positions in stocks, commodities, and other risky assets.
Source: Newsmaker.id
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