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- Asian session review: the US dollar consolidated against major currencies
Asian session review: the US dollar consolidated against major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 02:00 | China | Industrial Production y/y | April | 14.1% | 9.8% | 9.8% |
| 02:00 | China | Retail Sales y/y | April | 34.2% | 24.9% | 17.7% |
| 02:00 | China | Fixed Asset Investment | April | 25.6% | 19% | 19.9% |
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | April | 65.1% | 120.8% | |
| 06:30 | Switzerland | Producer & Import Prices, y/y | April | -0.2% | 1.8% |
During today's Asian trading, the US dollar was trading steadily against major currencies.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.02%. Last week, the index fell to the lowest level in the last 11 weeks on data that showed a rise in US inflation in April to the highest in the last 13 years.
Several members of the US Federal Reserve System (Fed) last week said that, in their opinion, the current dynamics of inflation is temporary, so they do not expect a faster increase in interest rates.
The pound rose slightly against the US dollar. British Prime Minister Boris Johnson said on Friday that the Indian strain of the coronavirus could prevent the weakening of lockdown in the UK.
Meanwhile, data showed that economic activity in China slowed slightly in April after a sharp jump in the previous month, which was due, among other things, to a low base for comparison. Retail sales jumped 17.7% compared to the same month in 2020, according to data from the State Statistics Office. In March, an increase of 34.2% was recorded.
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