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- Asian session review: USD depreciates as risk appetite improves amid growing U.S. stimulus hopes
Asian session review: USD depreciates as risk appetite improves amid growing U.S. stimulus hopes
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Japan | Manufacturing PMI | September | 47.2 | 47.3 | 47.7 |
| 06:30 | Switzerland | Retail Sales (MoM) | August | 0.0% | -1.9% | |
| 06:30 | Switzerland | Retail Sales Y/Y | August | 3.6% | 2.5% | |
| 06:30 | Switzerland | Consumer Price Index (MoM) | September | 0.0% | 0% | 0% |
| 06:30 | Switzerland | Consumer Price Index (YoY) | September | -0.9% | -0.8% | -0.8% |
| 07:30 | Switzerland | Manufacturing PMI | September | 51.8 | 54.4 | 53.1 |
USD fell against most major counterparts in the Asian session on Thursday as risk appetite improved amid growing hopes that U.S. lawmakers would reach a compromise on a new stimulus package.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, increased 0.13% to 93.76.
White House chief of staff Mark Meadows said that U.S. President Donald Trump's administration had extended the proposal for more than $1.5 trillion in stimulus. The announcement came after the House of Representatives delayed the vote on a $2.2 trillion relief package designed by House Democrats on Wednesday evening after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to strike a coronavirus aid deal but said the talks would continue.
In addition, the latest set of U.S. macro reports restored investor confidence in economic recovery prospects. A report from ADP revealed that private sector employment in the U.S. increased more than expected in September, while NAR's data showed that pending home sales in the U.S. climbed to a record high in August.
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