TEMPO.CO, Jakarta – The latest economic and trade news until Tuesday July 19, 2022 at noon from American dollars slipped to a one-week low against a basket of other major currencies in late trading Tuesday morning.
Next, information on the seven largest palm oil producing countries in the world. Also, news regarding the list of several public companies that have opened job offer and conditions. Here is a summary of the three stories:
1. US dollar slides to low amid signs the Fed is raising interest rates
The U.S. dollar slipped to a one-week low against a number of other major currencies in late trading Monday local time or Tuesday morning July 19, 2022, after hitting a two-decade high last week. It comes as traders reduce bets on how aggressively the Federal Reserve will hike rates at its meeting later this month.
Fed officials signaled Friday, July 15, 2022 that they would likely stick to a 75 basis point rate hike at their July 26-27 meeting. Despite recent data on high inflation, it could still justify a bigger gain than expected later in the year.
Futures traders tied to the Fed’s short-term key federal funds rate have firmly shifted their bets in favor of a 0.75 point hike at the next meeting.
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