USD/Asians to open bid, eyes strong 2024 finish
Dec 11 (Reuters) -USD/Asians to open bid, strong US jobs growth dents hopes of rate cuts by the Fed Reserve (Fed) in Spring. US employers added 199,00 jobs in November, up from October's 150,000 and above forecast for 180,000. US unemployment rate fell to 3.7% from 3.9% nL1N3D23EY
Highlight this week is US inflation on Tuesday, followed by the Fed's rate decision on Wednesday. The Fed is widely expected to hold rates at 5.25-5.50%. Focus is on the Fed's economic projections, dot plot and Fed Chair Jerome Powell's press conference.
USD/SGD underpinned by broad dollar gains post US payrolls. Buy dips preferred on bullish technical outlook, targets 1.3500 ahead of yearend.
USD/MYR maintains bullish bias above 4.6500, test at 4.7000 eyed. China's economic woes, weak Yuan, lower oil prices support. October industrial production due on Monday.
USD/THB to continue higher. Stops above 35.40 and broad USD gains add fuel to rally. Pair eyes 36.0 test before yearend.
USD/IDR to gap higher. Yearend demands and higher USD underpins. Pair to revisit 15700-15730 early November highs. November trade due on Friday.
USD/CNH uptrend intact post Moody's outlook downgrade. November industrial production, retail sales, urban investment, unemployment, and house prices due on Friday.
USD/INR entrenched in bull bias, fresh record highs eyed. Industrial production and CPI due on Tuesday, trade data on Wednesday, WPI on Thursday.
USD/KRW bid above 1300, eyes return to 1360 October highs. November unemployment due on Wednesday.
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(Catherine Tan is a Reuters market analyst. The views expressed are her own.)</body></html>
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