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- European session review: the dollar fell slightly ahead of the Fed meeting
European session review: the dollar fell slightly ahead of the Fed meeting
| 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% |
| 10:00 | Eurozone | ZEW Economic Sentiment | March | 69.6 | 74.0 | |
| 10:00 | Germany | ZEW Survey - Economic Sentiment | March | 71.2 | 74 | 76.6 |
| 12:30 | Canada | Foreign Securities Purchases | January | 5.08 | 1.27 | |
| 12:30 | U.S. | Retail sales | February | 7.6% | -0.5% | -3% |
| 12:30 | U.S. | Retail Sales YoY | February | 7.4% | 6.3% | |
| 12:30 | U.S. | Retail sales excluding auto | February | 8.3% | -0.1% | -2.7% |
| 12:30 | U.S. | Import Price Index | February | 1.4% | 1.2% | 1.3% |
During today's European trading, the US dollar fell slightly, with market participants showing caution ahead of the meetings of the world's largest central banks.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.12%.
Central bankers are unlikely to abandon accommodative monetary policy, despite forecasts of rapid economic growth as the COVID-19 vaccine is introduced and $1.9 trillion in U.S. stimulus is approved.
Investors will be closely watching the Fed's comments on bond yields. Government bond yields around the world jumped on expectations that economic growth and inflation could lead to a faster-than-expected normalization of monetary policy.
The pound fell against the US dollar ahead of the Bank of England meeting on Thursday. Analysts predict that the central bank will keep its benchmark interest rate at a historic low of 0.1% and will not change the terms of the bond purchase program.
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