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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 |
|---|---|---|---|---|---|---|
| 06:00 | Germany | GDP (YoY) | Quarter II | -3.1% | 9.2% | 9.4% |
| 06:00 | Germany | GDP (QoQ) | Quarter II | -2% | 1.5% | 1.6% |
During today's Asian trading, the US dollar was trading steadily against major currencies, with the dollar index trading near the lowest level in about a week.
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 0.03%.
The key event this week will be the annual economic symposium in Jackson Hole, where Federal Reserve Chairman Jerome Powell will speak. Investors will be waiting for hints from him about when the Fed intends to start curtailing the asset repurchase program.
The symposium will be held on August 26-28. In addition to Powell, representatives of central banks and finance ministries of various countries, scientists, representatives of the banking sector and business will take part in it.
The minutes of the Fed's July meeting, published last week, showed that most Federal Reserve leaders are ready to start reducing the $120 billion asset repurchase program this year, despite the risks associated with a new strain of coronavirus.
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