Market movements at the opening of the week on Monday remained mixed, witnessing changes in the trading value of the US dollar.
The US dollar weakened until the opening of the New York session yesterday, but towards the end of the session it was seen gradually recovering like the movement pattern last Friday.
Investors this week are cautiously awaiting the release of US inflation data which will be an important indicator for the Federal Reserve (Fed) ahead of the FOMC meeting next week.
Last Friday, the US NFP employment data report was observed. The increase in employment in November increased above expectations, reflecting the strong health of the labor sector.
However, the unemployment rate, which increased compared to the forecast to remain as before, still leaves room for the Fed to continue cutting its interest rates.
In addition to US inflation data, market attention this week is also focused on the results of policy meetings of major central banks including the Reserve Bank of Australia (RBA), Bank of Canada (BOC), Swiss National Bank (SNB) and also the European Central Bank (ECB).
In the Asian session this morning (Tuesday), the focus will be on the RBA which is expected to continue to keep interest rates unchanged at 4.35%.
The central bank's follow-up statement will be an important indicator for investors to assess any change in policy tone after interest rates are kept on hold throughout 2024.
