Market news
25.03.2021, 08:15

Asian session review: the dollar rose slightly against most currencies

TimeCountryEventPeriodPrevious valueForecastActual
07:00GermanyGfk Consumer Confidence SurveyApril-12.7-11.9-6.2

During today's Asian trading, the US dollar rose slightly against the euro and rose moderately against the yen.

Yesterday, the EUR/USD pair reached its lowest level since November amid concerns about a new wave of COVID-19 in Europe.

Experts note that risk aversion is back on the rise, and concern about the pace of global economic growth is increasing amid signs that COVID-19 is harder to control in Europe than expected.

After the extension of quarantine measures in Germany and some regions of France, the Dutch authorities announced that the restrictions in force in the country will be extended until April 20. Analysts believe that against the background of the third wave (coronavirus), economic data will not be very encouraging, especially compared to data from the United States.

Financial aid is critical to the U.S. economic recovery effort, Federal Reserve Chairman Jerome Powell said at a Senate Banking Committee hearing on Wednesday. When asked whether the rise in government bond yields threatens to slow the country's GDP recovery, he repeated that the increase comes from very low levels and reflects confidence in the improving state of the economy.

On Thursday, investors expect the publication of final data on the change in US GDP in the fourth quarter of 2020.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.11%

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