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- Asian session review: the dollar rose against major currencies
Asian session review: the dollar rose against major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:00 | New Zealand | RBNZ Interest Rate Decision | 0.25% | 0.5% | 0.5% | |
| 06:00 | Germany | Factory Orders s.a. (MoM) | August | 4.9% | -2.1% | -7.7% |
During today's Asian trading, the US dollar rose against the euro, the Japanese yen and most of the world's major currencies. The dollar is supported by investors' flight from risk and concerns about slowing global economic growth and persistently high inflation.
Traders are waiting for data on the US labor market, which may shed light on the next steps of the US Federal Reserve System in relation to monetary policy. It is expected that Friday's statistics on employment in the non-farm sector will show further improvement in September. According to forecasts, 488,000 additional jobs were created in September.
Experts at the Peterson Institute for International Economics see growing chances that the Fed may need a more aggressive approach to rates than the markets and the Central Bank itself currently expect.
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 0.19%. The index is near the maximum level for the year.
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