Bank Negara Malaysia (BNM) will leave its key interest rate unchanged on Thursday and keep it there at least through 2025 as growth remains robust and inflation stays under control, according to a Reuters poll of economists.
The U.S. dollar steadied Tuesday as investors look forward to the release of key economic data, including Friday’s U.S. payrolls, that could cement an interest rate cut from the Federal Reserve later this month.
Brent oil prices declined on Tuesday as sluggish economic growth in China, the world’s biggest crude importer, increased demand concerns while a halt to Libyan production and exports provided a floor.
The U.S. Federal Reserve is widely expected to start cutting interest rates later this month, and the payrolls data could determine the size of the reduction, likely impacting wider risk sentiment. Lower rates bode well for cryptocurrencies, given that they free up more liquidity for speculative trade.
Europe stocks struggled for direction on Tuesday as investors remained cautious ahead of a raft of economic data in the run-up to the all-important U.S. jobs report on Friday, while German stocks hit all-time highs.
