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- Asian session review: the US dollar declined against the euro
Asian session review: the US dollar declined against the euro
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | National Australia Bank's Business Confidence | October | -4 | 5 | |
| 01:30 | China | PPI y/y | October | -2.1% | -2% | -2.1% |
| 01:30 | China | CPI y/y | October | 1.7% | 0.8% | 0.5% |
| 05:00 | Japan | Eco Watchers Survey: Current | October | 49.3 | 57.6 | 54.5 |
| 05:00 | Japan | Eco Watchers Survey: Outlook | October | 48.3 | 59.2 | 49.1 |
| 07:00 | United Kingdom | Average earnings ex bonuses, 3 m/y | September | 0.9% | 1.5% | 1.9% |
| 07:00 | United Kingdom | Average Earnings, 3m/y | September | 0.1% | 1% | 1.3% |
| 07:00 | United Kingdom | ILO Unemployment Rate | September | 4.5% | 4.8% | 4.8% |
| 07:00 | United Kingdom | Claimant count | October | -40.2 | 50 | -29.8 |
| 07:45 | France | Industrial Production, m/m | September | 1.1% | 0.8% | 1.4% |
During today's Asian trading, the US dollar declined against the euro and the japanese 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), rose 0.02%.
The dollar's decline is expected to continue, market watchers say. Positive news regarding the development of a coronavirus vaccine is likely to stimulate demand for riskier assets for riskier assets and the abandonment of traditional safe-haven assets.
The fact that Democrats are unlikely to gain control of the Senate means that the size of the stimulus package that may be passed in the future will be reduced, and this will force the Federal reserve to act more decisively to support the economy.
Meanwhile, UK data showed that the UK unemployment rate increased in the third quarter and redundancies reached a record high. The ILO jobless rate rose by 0.7 percentage points from the previous quarter to 4.8 percent in three months to September, as economists' expected. Meanwhile, the employment rate dropped by 0.6 percent from the preceding quarter to 75.3 percent. The employment rate has been decreasing since the start of the coronavirus pandemic, while the unemployment rate is rising sharply. The number of people temporarily away from work has fallen since its peak in April and May 2020.
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