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- Asian session review: the US dollar rose against most major currencies
Asian session review: the US dollar rose against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | House Price Index (QoQ) | Quarter IV | 0.8% | 2% | 3% |
| 00:30 | Australia | RBA Meeting's Minutes | ||||
| 04:05 | Japan | BOJ Governor Haruhiko Kuroda Speaks | ||||
| 04:30 | Japan | Industrial Production (MoM) | January | -1% | 4.3% | |
| 04:30 | Japan | Industrial Production (YoY) | January | -2.6% | -5.2% | |
| 07:45 | France | CPI, m/m | February | 0.2% | -0.1% | 0% |
| 07:45 | France | CPI, y/y | February | 0.6% | 0.4% | 0.6% |
During today's Asian trading, the US dollar was trading steadily against the euro, but rose against the yen.
Traders will focus on the two-day meeting of the Federal Reserve System (Fed), starting on March 16, as well as the meetings of the Bank of England and the Bank of Japan, which will be held later this week.
"The upcoming meeting of the Federal Reserve is likely to determine the direction of the dollar, at least for the next few months. The meeting will show whether the Fed's leaders still expect to maintain a soft monetary policy for a very long period of time, or whether the budget incentives adopted in the amount of about 10% of GDP will mean that policy tightening will begin much earlier than the market puts it in the current rates," Goldman Sachs noted.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.10%.
The pound fell almost 0.5% against the US dollar. Unlike the European Central Bank (ECB), which promised last week to accelerate the pace of asset repurchases under the anti - crisis program, the Bank of England is likely to keep the volume of repurchases at the current level-about 4.4 billion pounds per week.
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