Daily forex market news and analysis: gold, the US dollar, the Fed, oil and Asian currencies like the rupiah, written for traders.
Not yet. On October 4, Iran said the Strait of Hormuz stays closed until the US accepts its seven conditions based on the Islamabad memorandum, while Washington is still pushing nuclear terms first. With no deal, Brent stays near $102, US yields stay high, and gold stays stuck around $4,150–4,200.
Will the Strait of Hormuz Reopen? What Iran’s Stance Means for Oil and Gold Read More »
Not dead, but badly wounded. August core PCE rose just 0.2% on the month and 3.0% on the year, below the 3.3% forecast. Add the weakest consumer confidence since 2014, and markets now price an October hike at roughly a coin flip or less, down from about 71% a week ago.
Did Cooler PCE Just Kill the October Fed Rate Hike? Read More »
The rupiah broke Rp18,000 per dollar on September 29 because US 10-year yields hit a 19-year high above 5.2%, Brent oil is above $100 on US–Iran tensions, and investors are uneasy about Indonesia’s budget. Money is leaving emerging markets for dollar assets, and Bank Indonesia is intervening to slow the slide.
Why Is the Rupiah Falling Past 18,000 Per Dollar? Read More »
