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- Asian session review: the dollar declined against most major currencies
Asian session review: the dollar declined against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 07:00 | Germany | CPI, m/m | December | -0.8% | 0.5% | 0.5% |
| 07:00 | Germany | CPI, y/y | December | -0.3% | -0.3% | -0.3% |
| 07:30 | Switzerland | Producer & Import Prices, y/y | December | -2.7% | -2.3% |
During today's Asian trading, the US dollar fell against the euro, but rose against the yen.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.15%.
The market is focused on hearings in the US Senate Finance Committee, where Janet Yellen, ex-Chairman of the Federal reserve system, nominated by US President-elect Joe Biden for the post of Treasury Secretary, will speak.
The Senate Finance Committee must approve Yellen's candidacy for the post of head of the US Treasury before the issue is put to a vote in the Senate.
According to the text prepared for Yellen's speech, she will call on lawmakers to support large-scale measures to stimulate the economy. According to Yellen, the US economy could face a longer and more painful recession without new stimulus.
Yellen will also have to answer questions from senators, including possibly related to monetary policy. On the eve of the WSJ wrote, citing its sources, that Yellen will declare his commitment to the approach in which the dollar is regulated by the market.
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