Oddbean

Asian currencies slip after US jobs data, Malaysian ringgit hits three-week low ========== Most Asian currencies fell on October 7, 2024, following a stronger-than-expected US jobs report that indicated a resilient economy, leading to reduced expectations for Federal Reserve rate cuts and a stronger US dollar; the Malaysian ringgit dropped 1.4%, its lowest since mid-September, while the Indonesian rupiah fell 1.3%, reaching lows not seen since mid-August; the MSCI gauge of emerging market currencies decreased by 0.4%; Asian equities, however, gained, with Manila stocks rising 1.8%, marking their highest level in over four-and-a-half years; Thailand's annual headline inflation quickened in September, primarily due to rising diesel and vegetable prices, with the baht weakening 1.1%; traders are awaiting key economic data from Thailand and Taiwan, as well as a press conference from China's NDRC on economic growth policies. #AsianCurrencies #UsJobsReport #MalaysianRinggit #EconomicData #Inflation #StockMarket #FederalReserve #EmergingMarkets #Thailand #Taiwan https://www.brecorder.com/news/40325861/asian-currencies-slip-after-us-jobs-data-malaysian-ringgit-hits-three-week-low