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- Asian session review: the US dollar declined against most major currencies
Asian session review: the US dollar declined against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | China | PPI y/y | June | -3.7% | -3.2% | -3.0% |
| 01:30 | China | CPI y/y | June | 2.4% | 2.5% | 2.5% |
| 06:00 | Germany | Current Account | May | 7.7 | 6.5 | |
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | June | -52.8% | -32.0% | |
| 06:00 | Germany | Trade Balance (non s.a.), bln | May | 3.6 | 7.1 |
During today's Asian session, the dollar fell against most major currencies as investors turned to riskier assets such as global stocks and raw materials.
The Chinese yuan rose to a four-month high against the dollar, while investors increased positions in Chinese stocks due to growing signs of recovery in the world's second-largest economy.
"Rising stocks and falling treasury yields are slightly negative factors for the dollar, but the market can't move too far because we still have to worry about the virus," said an expert at MUFG Bank.
Market participants are waiting for data on applications for unemployment benefits in the US, which will be released later on Thursday.
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 0.15%.
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