|06:00||Germany||GDP (QoQ)||Quarter I||-0.1%||-2.2%||-2.2%|
|06:00||Germany||GDP (YoY)||Quarter I||0.4%||-2.3%||-2.3%|
|06:30||Switzerland||Industrial Production (YoY)||Quarter I||1.4%||0.8%|
During today's Asian trading, the US dollar rose against the euro and the yen. The US currency is also rising in value in a pair with the Chinese yuan amid growing tensions between the two countries.
The euro is under pressure after the publication on Friday of the minutes of the last meeting of the European Central Bank (ECB), which showed that the Central Bank's management does not expect a "V-shaped" recovery of the Euro zone economy after the crisis caused by the coronavirus pandemic.
The minutes also note that the ECB should be ready to adjust the Pandemic Emergency Purchase program (PEPP), as well as its other instruments, if it sees that the scale of the stimulus measures already introduced is insufficient.
The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.06%.
The US dollar exchange rate against the yuan rose by 0.18% to 7.1421 yuan. Growing tensions between Washington and Beijing may lead to a rise in the dollar above the three - month forecast rate of Goldman Sachs-7.15 yuan/$1, analysts at the investment bank say.
Relations between the US and China deteriorated sharply after Washington accused the Chinese authorities of not disclosing information about the outbreak of coronavirus infection quickly enough. In addition, the parties disagree on the issue of Hong Kong, where Beijing is seeking to strengthen its leadership.
Over the weekend, Chinese foreign Minister Wang Yi said that certain forces in the United States are pushing countries towards a new "cold war", calling on Washington to abandon attempts to change China.
© 2000-2020. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.