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- Asian session review: the US dollar consolidated against most currencies
Asian session review: the US dollar consolidated against most currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Japan | Manufacturing PMI | June | 53 | 51.5 | |
| 00:30 | Japan | Nikkei Services PMI | June | 46.5 | 47.2 | |
| 05:00 | Japan | Coincident Index | April | 92.9 | 95.3 | |
| 05:00 | Japan | Leading Economic Index | April | 102.4 | 103.8 |
During today's Asian trading, the US dollar was trading steadily against most major currencies after declining on comments from the head of the US Federal Reserve (Fed) Jerome Powell.
The Fed left monetary policy unchanged at the end of its June meeting last week, with a dot plot showing that the majority of Fed leaders - 13 people - expect a rate increase in 2023. This put pressure on the stock market and contributed to the growth of the dollar.
Meanwhile, Powell said on Tuesday that the Fed's goal is to restore the labor market, noting that fears of rising inflation alone will not be enough to raise rates. Powell reiterated his view that the acceleration in inflation in the country is likely to be temporary, saying that the Fed will continue to support the economy.
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 0.02%.
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