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- Asian session review: the US dollar rose against major currencies
Asian session review: the US dollar rose against major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | Unemployment rate | July | 4.9% | 5% | 4.6% |
| 01:30 | Australia | Changing the number of employed | July | 29.1 | -46.2 | 2.2 |
| 06:00 | Switzerland | Trade Balance | July | 4.4 | 4.1 | |
| 06:30 | Switzerland | Industrial Production (YoY) | Quarter II | 4.7% | 15.7% |
During today's Asian trading, the US dollar rose to a nine-month high against major currencies due to expectations that the US Federal Reserve will start reducing stimulus this year.
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 0.29%, to 93.40, having previously reached a maximum since November 5 at 93,502.
Fed officials agreed that the level of employment sufficient to reduce incentives can be achieved this year, the minutes of the July 27-28 meeting, published on Wednesday, showed.
"We maintain our forecast that the FOMC will announce a reduction in stimulus in September, followed by implementation in October or possibly November," wrote Joseph Capurso, an expert at Commonwealth Bank of Australia.
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