Bank Indonesia (BI) will leave interest rates unchanged on Wednesday despite inflation falling to its lowest level since 2021, as receding expectations of aggressive U.S. Federal Reserve easing weaken the rupiah, a Reuters poll found.
The U.S. dollar hit a nine-week high on Monday in thin trading, continuing its bullish trend in the last few weeks, triggered by economic data that, while trending lower, remained stable overall.
Oil prices declined about 2% on Monday, wiping out all of last week’s gains, as OPEC’s lowering of its 2024 and 2025 global oil demand growth view again added to concerns of weak fuel demand with China’s oil imports falling for a fifth month in a row.
Bitcoin’s price jumped on Monday, extending a weekend rebound as defunct crypto exchange Mt Gox postponed plans to return assets to creditors by a year, assuaging fears of a near-term sell event.
Gold Futures for December delivery was down 0.44% or 11.70 to $2,664.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 2.47% or 1.87 to hit $73.69 a barrel, while the December Brent oil contract fell 2.34% or 1.85 to trade at $77.19 a barrel.
