- Asian session review: the dollar rose against most major currencies
Market news
Asian session review: the dollar rose against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | National Australia Bank's Business Confidence | February | -1 | ||
| 01:00 | New Zealand | RBNZ Gov Orr Speaks | ||||
| 01:30 | China | PPI y/y | February | 0.1% | -0.3% | -0.4% |
| 01:30 | China | CPI y/y | February | 5.4% | 5.2% | 5.2% |
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | February | -35.6% | -30.1% | |
| 06:30 | France | Non-Farm Payrolls | Quarter IV | 0.2% | 0.4% |
In today's Asian trading, the US dollar rose against most major currencies, and the yen fell on expectations of government stimulus measures in the face of the COVID-19 coronavirus outbreak. Yesterday, the Japanese yen rose against the dollar to its highest level since 2016.
The ICE Dollar index, which shows the value of the dollar against six major world currencies, rose 1.03% compared to the previous day.
The yield on ten-year US Treasuries rose 15 basis points to 0.645% after falling 22 basis points on Monday. On Monday, US Treasury bonds rose in price amid growing demand for safe haven assets.
Japan's Cabinet of Ministers today approved a bill allowing Prime Minister Shinzo Abe to impose a state of emergency in response to the coronavirus outbreak. In addition, the government must agree on a second package of economic response measures, said Taro Aso, the country's Finance Minister.
Yesterday, US President Donald trump said that he will take "serious" steps to protect the economy from the impact of the spreading coronavirus epidemic, in particular, discuss reducing income tax.
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