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- Asian session review: the US dollar was trading stable
Asian session review: the US dollar was trading stable
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 02:00 | China | Fixed Asset Investment | September | -0.3% | 0.8% | 0.8% |
| 02:00 | China | Industrial Production y/y | September | 5.6% | 5.8% | 6.9% |
| 02:00 | China | Retail Sales y/y | September | 0.5% | 1.8% | 3.3% |
| 02:00 | China | GDP y/y | Quarter III | 3.2% | 5.2% | 4.9% |
In today's Asian trading, the US dollar consolidated against major currencies. The dynamics of trading are influenced by hopes for new measures to stimulate the US economy and concern about the onset of a second wave of coronavirus in Europe, which indicates the likelihood of new stimulus measures from the ECB.
Data on China was also in focus. The National Bureau of Statistics said China's gross domestic product was up 4.9 percent on year in the third quarter of 2020, missing forecasts for a gain of 5.2 percent but still up from 3.2 percent in the three months prior. On a quarterly basis, GDP rose 2.7 percent - again shy of expectations for 3.2 percent and down sharply from the 11.5 percent gain in the previous three months. Industrial production jumped 6.9 percent on year in September - beating forecasts for a gain of 5.8 percent and up from 5.6 percent in August. Retail sales climbed an annual 3.3 percent, exceeding expectations for a rise of 1.8 percent following the 0.5 percent gain in the previous month.
The ICE index, which tracks the US dollar against six currencies (the Euro, Swiss franc, yen, canadian dollar, pound sterling and Swedish Krona), fell 0.01%.
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