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Asian emerging-market currencies and stocks held steady on Wednesday as traders awaited US inflation data and the Federal Reserve meeting. The Thai baht edged higher while the rupiah and ringgit slipped.
Markets priced in 62 basis points of US easing this year, with a September cut seen at 95%.
Weaker ringgit and rupiah can make palm oil and other regional vegetable oil exports cheaper for foreign buyers, which weighs on palm prices. Expected US rate cuts point to a softer dollar, which generally supports commodity demand.
brecorder.comReutersJul 25, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
