- Asian session review: the dollar declined against most currencies ahead of the results of the Fed meeting
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Asian session review: the dollar declined against most currencies ahead of the results of the Fed meeting
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | Trimmed Mean CPI q/q | Quarter I | 0.4% | 0.4% | 0.5% |
| 01:30 | Australia | CPI, q/q | Quarter I | 0.7% | 0.2% | 0.3% |
| 01:30 | Australia | Trimmed Mean CPI y/y | Quarter I | 1.6% | 1.6% | 1.8% |
| 01:30 | Australia | CPI, y/y | Quarter I | 1.8% | 2% | 2.2% |
The US dollar fell in price while waiting for the results of the Federal reserve meeting.
Most experts expect that the Federal reserve will keep the base interest rate at 0-0. 25% per annum at the end of the meeting on Wednesday. In March, the Fed twice urgently lowered the rate - the first time by 0.5%, to 1-1. 25% per annum, the second time - by 1%, to 0-0. 25% per annum.
Following this, the Fed launched a $700 billion asset repurchase program, and a week later announced that it would not limit its volume at all. In addition, the Fed has introduced a number of new credit programs to ensure uninterrupted provision of business with cash.
Analysts note that traders expect the FOCM to significantly change the text of the statement at the end of the meeting to give a clear signal that the policy parameters it has urgently introduced will remain as long as necessary.
The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.18%.
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