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- Asian session review: the US dollar was almost unchanged against the euro and yen
Asian session review: the US dollar was almost unchanged against the euro and yen
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | Company Gross Profits QoQ | Quarter I | -3.5% | 0% | 1.1% |
| 01:30 | Australia | Current Account, bln | Quarter I | 1.7 | 6.3 | 8.4 |
| 04:30 | Australia | RBA Rate Statement | ||||
| 04:30 | Australia | Announcement of the RBA decision on the discount rate | 0.25% | 0.25% | 0.25% | |
| 06:00 | United Kingdom | Nationwide house price index, y/y | May | 3.7% | 2.8% | 1.8% |
| 06:00 | United Kingdom | Nationwide house price index | May | 0.9% | -1% | -1.7% |
| 06:30 | Switzerland | Retail Sales (MoM) | April | -6.7% | -14.7% | |
| 06:30 | Switzerland | Retail Sales Y/Y | April | -5.8% | -19.9% |
During today's Asian trading, the US dollar was trading steadily against the euro and the yen.
The ICE index, which tracks the dynamics of the us dollar against six currencies (Euro, Swiss franc, yen, canadian dollar, pound sterling and Swedish Krona), fell by 0.04%.
Traders' optimism about the recovery of economic activity around the world amid the gradual removal of lockdowns weakens interest in the dollar, supporting demand for risky assets.
Economic growth is still far from 2017 levels, "but some pieces of the puzzle are beginning to fall into place," said Chris Turner, strategist at ING Bank.
"With confidence gradually returning, you can start withdrawing some of the money from the safest assets," the expert says.
The focus of traders ' attention this week is the meeting of the European Central Bank (ECB). Experts expect that ECB President Christine Lagarde will announce the expansion of the Pandemic Emergency Purchase program (PEPP), which currently amounts to 750 billion euros.
The ECB has already spent more than 210 billion euros from the program, and at this rate its funds will be exhausted in October.
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