The dollar was steady on Monday as traders looked ahead to a week dominated by central bank meetings worldwide, with the Bank of Japan seemingly on the brink...
SINGAPORE - The dollar was steady on Monday as traders looked ahead to a week dominated by central bank meetings worldwide, with the Bank of Japan seemingly on the brink of ending negative rates and the focus on how many rate cuts the Federal Reserve projects.
On Monday, the Japanese yen weakened 0.13% to 149.22 per dollar to its lowest in more than a week, but it is still up 0.5% in March against the greenback. Beyond Japan, Australia's central bank is also due to meet on Tuesday and is widely expected to hold rates steady, with economists polled by Reuters expecting at least two rate cuts in the final quarter of 2024.
While the U.S. central bank is not expected to make any interest rate moves, hotter-than-expected U.S. producer and consumer price data last week has led traders to rein in bets on future cuts. NatWest strategists said last week's inflation report is likely to keep the Fed in "wait-and-watch" mode, with the “dot plot" widely expected to be updated.
Walmart is another low-price retailer that has announced store closures this week, with a handful of closures coming on the heels of Dollar Trees.Another presidential election is on the horizon, and financial advisors are considering the possibility of Donald Trump securing the Republican nomination and winning a second term at the presidency....Three growth stocks outside the tech sector are strong buys for their massive revenue growth potential by 2025.
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