• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

5 December 2024 13:51  |

Dollar Holds Steady as Traders Weigh Fed Outlook

The dollar index held steady around 106.3 on Thursday after experiencing increased volatility in the previous session as investors continued to assess the outlook for Federal Reserve monetary policy.

On Wednesday, Fed Chair Jerome Powell indicated that the central bank was in no rush to cut interest rates, citing stronger-than-expected growth, a strong labor market and persistent inflation pressures.

Meanwhile, data showed that U.S. service sector growth slowed more than anticipated in November. The probability of a 25 basis point rate cut in December increased to about 79%, up from 66.5% last week.

Investors now turn their attention to Friday’s November jobs report for additional insight into the Fed’s policy direction. Elsewhere, the dollar remained supported against the euro and the South Korean won, supported by political turmoil in France and South Korea.

Source: Trading Economics

Related News

US DOLLAR

Dollar advances near 7-month peak after US inflation data

The U.S. dollar advanced near a seven-month high against major currencies on Wednesday after data showed U.S. inflation for O...

13 November 2024 23:41
US DOLLAR

Dollar Awaits US Vote Result, Euro Volatility Jumps

The dollar gauge is slightly weaker ahead of US vote results as polls show a deadlocked presidential race. Euro volatility ...

5 November 2024 21:23
US DOLLAR

Dollar Bulls in Control; Euro, Pound Extend Lows

The dollar extended its rally versus major peers as rising Treasury yields and confirmation of a Republican election clean ...

14 November 2024 17:15
US DOLLAR

Dollar Consolidates Before US Payrolls Data

A gauge of the dollar held largely steady as traders stayed on the sidelines ahead of US payrolls data later on Friday and el...

1 November 2024 10:06
BIAS23.com NM23 Ai