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- Asian session review: the dollar continued to rise against the euro
Asian session review: the dollar continued to rise against the euro
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | Retail Sales, M/M | March | 0.6% | 8.5% | |
| 06:00 | Germany | Factory Orders s.a. (MoM) | March | -1.2% | -10% | -15.6% |
The US dollar continued to rise against the euro. On Tuesday, the euro lost about 0.6% against the dollar after an unexpected decision of the Federal constitutional court of Germany, which put at risk the European Central Bank's (ECB) asset purchase program. The German court found that the ECB exceeded its authority by launching the program in 2015, and ordered the German government to "take active steps" to counter its implementation in its current form.
The ICE Dollar index, which shows the value of the us dollar against six major world currencies, rose 0.15% compared to the previous day.
The Australian dollar rose 0.20% against the dollar. Retail sales in Australia in March soared by 8.5% compared to the previous month, according to the final data of the state administration of the country. This is a record increase in the indicator, which was caused by panic buying of food (+24%) and other essential goods against the background of the introduction of quarantine measures in the country.
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