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- Asian session review: the euro continued to fall against the US dollar
Asian session review: the euro continued to fall against the US dollar
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Japan | Manufacturing PMI | January | 48.4 | 49.3 |
In today's Asian trading, the US dollar rose slightly against the euro and strengthened slightly against the yen.
The euro falls for the second consecutive session after the European Central Bank (ECB) meeting. ECB President Christine Lagarde said yesterday that the Central Bank sees signals of a moderate increase in core inflation, while downside risks to the Euro zone economy have become less pronounced.
The ECB did not change its key interest rates and asset buyback program, and announced the start of the first review of the Central Bank's strategy since 2003, which will last a year.
Lagarde's statements were taken by traders as a signal that the ECB will stick to the previous course of monetary policy. She called on Eurozone countries to "significantly step up" structural reforms, which, according to experts, may signal the Central Bank's reluctance to change policy in the near future.
The yen fell by 0.05% against the US dollar, but has risen by about 0.6% since the beginning of the week. Experts expect it to strengthen further due to the continued demand for safe Harbor assets in the face of the spread of a new type of pneumonia.
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