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- Asian session review: the euro rose against the dollar in anticipation of the ECB meeting
Asian session review: the euro rose against the dollar in anticipation of the ECB meeting
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | China | PPI y/y | November | -2.1% | -1.8% | -1.5% |
| 01:30 | China | CPI y/y | November | 0.5% | 0% | -0.5% |
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | November | -5.9% | 8% | |
| 07:00 | Germany | Current Account | October | 25.2 | 22.5 | |
| 07:00 | Germany | Trade Balance (non s.a.), bln | October | 20.6 | 19.4 |
During today's Asian trading, the euro rose against the US dollar in anticipation of the European Central Bank (ECB) meeting.
Since ECB President Christine Lagarde, as well as some of the key members of the Central Bank's leadership, have previously clearly indicated that they plan to take new steps to support the economy in the face of a new wave of COVID-19 pandemics and restrictive measures, no one doubts the expansion of stimulus.
The consensus forecast of analysts provides for an increase in the volume of the European Central Bank's emergency asset purchase program by 500 billion euros and an extension of its validity for six months-until December 2021.
The Chinese yuan strengthened against the dollar on the back of high risk appetite in global markets due to hopes for the early adoption of the next package of fiscal incentives in the United States, as well as positive news about COVID-19 vaccines.
The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.2%.
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