Us Dollar, Forex

Us Dollar, Forex

Dollar catches footing as inflation pressures rates outlook | Malay Mail

Dollar catches footing as inflation pressures rates outlook | Malay Mail

25/10/2021 6:33:00 AM

Dollar catches footing as inflation pressures rates outlook | Malay Mail

SINGAPORE, Oct 25 — The dollar steadied today after its steepest weekly loss in more than a month, as traders weigh the effect of inflation on the relative pace of looming rate hikes — with a wary eye on US growth data and a European Central Bank meeting. The greenback had softened, especially...

channel for the latest updates.SINGAPORE, Oct 25 — The dollar steadied today after its steepest weekly loss in more than a month, as traders weigh the effect of inflation on the relative pace of looming rate hikes — with a wary eye on US growth data and a European Central Bank meeting.

Make Malay customs, culture an academic subject in schools – Rais Yatim ‘Pua was arrogant and disliked’ Teens stop going to school to get jobs, help family survive

The greenback had softened, especially against the yen, after Federal Reserve Chair Jerome Powell said on Friday it was time to start cutting back asset purchases, though not yet time to begin raising interest rates.His remarks came as investors have priced in Fed rate hikes starting in the second half of next year and yet have begun to trim long dollar positions in anticipation that other central banks could get moving even sooner.

Today, the dollar was firm at US$1.1643 per euro and found a footing on the yen at 113.54 after Friday’s slide. The Australian and New Zealand dollars were held below the multi-month peaks they had scaled during last week.The Antipodeans, along with sterling, had bounded ahead this month as traders scrambled to price in higher rates while inflation runs hot, with markets now eyeing a near 60 per cent chance of a Bank of England hike next week. headtopics.com

Sterling was up 0.1 per cent at US$1.3772, but analysts were cautious about further gains especially as the Fed edges closer to tapering and policy tightening. The Aussie was steady at US$0.7473 and the kiwi at US$0.7157.“Dollar risks remain skewed to the upside,” said Kim Mundy, a currency analyst at the Commonwealth Bank of Australia in Sydney.

“(Fed) members are slowly conceding that inflation risks are skewed to the upside (and) the upshot is that interest rate markets can continue to price a more aggressive Fed Funds rate hike cycle which can support the dollar.”This week, Australian inflation data due on Wednesday is likely to set the tone for the next stage in a tussle between traders and a resolutely dovish central bank.

On Thursday, US growth data is expected to show a slowdown in growth as consumer confidence has faltered, but a surprise on either side might have consequences for the interest rate outlook.Also on Thursday the Bank of Japan and the European Central Bank meet. Neither are expected to adjust policy, but in Europe market gauges of projected inflation are at odds with the bank’s guidance.

In the background, traders remain nervous about trouble brewing at indebted developer China Evergrande Group. It surprised investors by averting default with a last-minute coupon payment last week, but other pressing debts loom.China’s yuan held just shy of a five-month peak in offshore trade at 6.3804 per dollar. Cryptocurrencies were steady below the heights reached last week, with bitcoin up 2 per cent at US$62,000. headtopics.com

LIVE | Court of Appeal to deliver Najib's appeal verdict Liquor licence directive cancelled Misi aneh Parti Bumi Kenyalang - Utusan Digital

In emerging markets the beaten-down Turkish lira was braced for selling as state banks are expected to follow a surprise rate cut from the central bank. — Reuters Read more: Malay Mail »

Licence requirement for coffee shops to sell beer not new, Dewan Rakyat told

KUALA LUMPUR: The requirement for coffeeshops to apply for a licence to sell beer from Jan 1 is a common practice, says Deputy Finance Minister I Mohd Shahar Abdullah.

Asian shares steady, dollar weak as traders await earnings | Malay MailHONG KONG, Oct 25 — Asian shares started steady today ahead of a week packed with major quarterly earnings announcements, while the dollar hovered near October lows after three weeks of risk-friendly sentiment hurt safe-haven currencies. HSBC and Facebook will both publish quarterly results...

Ringgit falls against US dollar at opening | Malay MailKUALA LUMPUR, Oct 25 — The ringgit depreciated against the greenback at the opening on Monday, with investors waiting on the sidelines ahead of the Budget 2022 tabling on Oct 29, said a dealer. At 9.01am, the local unit stood at 4.1505/1540 versus the greenback from 4.1490/1520 last Friday. He...

US to begin UK appeal against Assange extradition block | Malay MailLONDON, Oct 25 — The United States government will on Wednesday begin an appeal to extradite WikiLeaks founder Julian Assange to face trial for publishing military secrets, after a British judge blocked a request earlier this year. Washington said after the decision in January that it was...

Spillover from China’s property debt risks is controllable, says report | Malay MailSHANGHAI, Oct 25 — The spillover effect of Chinese real estate companies’ debt default risks to the financial industry is generally controllable, state media said today, as concerns continue to loom over China Evergrande Group. The comment was published in a Xinhua question and answer piece on...

PKR man sees possible five-cornered fight in Marudi | Malay MailMIRI, Oct 25 — A Parti Keadilan Rakyat (PKR) member said there could be a three- or even five-cornered fight for the Marudi state seat currently held by Assistant Minister of Local Government and Housing Datu Dr Penguang Manggil in the next state election. PKR Marudi chairman Elias Lipi Mat,...

Michael Jordan sneakers sell for nearly US$1.5m, an auction record | Malay MailNEW YORK, Oct 25 — A pair of sneakers worn by NBA superstar Michael Jordan early in his career sold for nearly US$1.5 million (RM6.2 million) on Sunday, setting a record price at auction for game-worn footwear, Sotheby’s said. The red-and-white shoes were worn by the iconic player in the fifth...