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The dollar appreciated 0.63% to 97.45 largely driven by resilient economic data which includes December’s The Institute of Supply Management (ISM) non-manufacturing purchasing managers’ index (PMI) coming in better than expected, accelerating to a four-month high of 55.0 from 53.9 in November (cons: 54.5) supported by higher production and inventories, and rising optimism over a potential trade resolution.
SINGAPORE: The currency is set to extend losses as a truce in the US-China trade war and signs that global growth is improving sap demand for haven assets.
THE US dollar witnessed a sell-off, depreciating by 0.95% to 96.775 following risk-on sentiment permeating global markets.
THE dollar appreciated by 0.36% to 97.631 following a confluence of factors such as the dovish ECB meeting; higher demand for safe-haven assets as optimism in the US-China trade talks was offset by another round of Brexit saga; and better-than-expected flash PMI data with the October Markit manufacturing PMI preliminary estimate rising to 51.5 points from 51.1 points in September and beating market expectation of 50.7.
What are we to do?: By Lin See-Yan
KUALA LUMPUR: The case is growing for Bank Negara Malaysia to bolster the economy with another interest-rate cut -- and to provide some much-needed encouragement for inflows to the ringgit bond market.
SINGAPORE: Treasuries led a global bond rally, with 10-year yields dropping below 2% for the first time since November 2016 as expectations grow that major central banks will ease policy.
TOKYO: The dollar was on the defensive on Thursday after the Federal Reserve signalled it was ready to lower interest rates to combat growing global and domestic risks.
NEW YORK: U.S. stocks ended nominally lower on Friday as investors awaited next week's Federal Reserve meeting for signs of imminent easing, while the U.S.-Iran confrontation in the Gulf of Oman added to geopolitical uncertainty, sending oil prices higher.
NEW YORK: The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks.