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- Asian session review: the dollar has stabilized against major currencies
Asian session review: the dollar has stabilized against major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:00 | New Zealand | RBNZ Interest Rate Decision | 0.25% | 0.25% | 0.25% | |
| 02:00 | New Zealand | RBNZ Press Conference | ||||
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | October | -15% | -5.9% |
During today's Asian trading, the US dollar fell slightly against the euro, traded steadily against the Japanese yen and rose against the pound.
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 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. Experts note that the dollar will continue to fall in price in the long term due to less favorable than in the past, interest rates in the United States relative to other G10 currencies.
Meanwhile, the US dollar fell 0.9% against the New Zealand dollar after the Reserve Bank of New Zealand expanded its monetary stimulus and retained its interest rate as the economic shock caused by the pandemic is set to remain for a prolonged period.
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 by 0.02%
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