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- Asian session review: US dollar rises ahead of Fed meeting
Asian session review: US dollar rises ahead of Fed meeting
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | National Australia Bank's Business Confidence | May | -46 | -32 | -20 |
| 01:30 | Australia | ANZ Job Advertisements (MoM) | May | -53.4% | 0.5% | |
| 05:45 | Switzerland | Unemployment Rate (non s.a.) | May | 3.3% | 3.5% | 3.4% |
| 06:00 | Germany | Current Account | April | 24.4 | 7.7 | |
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | May | -48.3% | -52.8% | |
| 06:00 | Germany | Trade Balance (non s.a.), bln | April | 17.4 | 3.5 | |
| 06:45 | France | Trade Balance, bln | April | -3.2 | -4.67 | -5 |
The dollar rose on the back of profit-taking, which slowed the growth of commodity currencies, while the growth of the Japanese yen indicated investors ' anxiety in anticipation of the Fed's next steps
The yen continued Monday's rally as the Japanese currency rose to a one-week high, while investors weighed the likelihood of increased purchases of government bonds - or an extremely "dovish" forecast by the Fed, which begins a two-day meeting on Tuesday.
At the same time, the Australian and New Zealand dollars retreated from the peak values reached earlier in the session.
The Fed will release the results of the meeting on Wednesday at 18.00 GMT, and the press conference of the head of the Fed Jerome Powell will begin at 18.30 GMT.
The Fed is expected to keep interest rates unchanged. In addition, futures pricing in recent days indicates that investors have abandoned expectations of a rate cut below zero next year.
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