# Asian FX, stocks rangebound after US data rekindles interest rate woes - Markets - Business Recorder

> Asian markets traded in a narrow range on Nov 23 during thin holiday trade, with the Malaysian ringgit and Indonesian rupiah leading losses. Both currencies touched one-week lows after US data, including jobless claims, durable goods and consumer sentiment, suggested the economy was softening but the labour market remained tight. Markets also cut their bets on Fed rate cuts in 2024.

- Date: 2023-11-23 · published 2023-11-23T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/33491-asian-fx-stocks-rangebound-after-us-data-rekindles-interest-rate-woes-markets
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Reduced expectations of US rate cuts keep the dollar supported and weigh on emerging Asian currencies, which raises import costs for Southeast Asian feed buyers. The effect on feed commodity prices is small and indirect.

## Read by commodity

- USDIDR: bullish ▲
- USDMYR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40274785

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.