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- Asian session review: the dollar rose slightly against the major currencies
Asian session review: the dollar rose slightly against the major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:00 | U.S. | Jackson Hole Economic Symposium | ||||
| 01:30 | Australia | Private Capital Expenditure | Quarter II | 6.0% | 2.5% | 4.4% |
| 06:00 | Germany | Gfk Consumer Confidence Survey | September | -0.4 | -0.7 | -1.2 |
During today's Asian trading, the US dollar rose slightly against the main world currencies.
Markets are waiting for the speech of Federal Reserve Chairman Jerome Powell at the annual economic symposium in Jackson Hole on Friday. However, there is a growing opinion among analysts that he will not give any obvious indications on the timing of the start of the curtailment of the securities repurchase program, which now amounts to $120 billion per month.
"I don't think that Powell or anyone else from the Fed will hint too aggressively about reducing asset purchases," says IG Markets analyst Kyle Rodda. "In my opinion, the dollar continues to move up only on the basis that sooner or later the Fed is going to do it."
Investors became more positive about the prospects after the US Food and Drug Administration (FDA) fully approved the Pfizer-BioNTech vaccine against COVID-19 on Monday, which could speed up the vaccination process in the US.
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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