- Asian session review: the dollar was almost unchanged against the euro and yen.
Market news
Asian session review: the dollar was almost unchanged against the euro and yen.
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 02:00 | China | Retail Sales y/y | April | -15.8% | -7% | -7.5% |
| 02:00 | China | Industrial Production y/y | April | -1.1% | 1.5% | 3.9% |
| 02:00 | China | Fixed Asset Investment | April | -16.1% | -10% | -10.3% |
| 06:00 | Germany | Producer Price Index (YoY) | April | -0.8% | -1.8% | -1.9% |
| 06:00 | Germany | Producer Price Index (MoM) | April | -0.8% | -0.6% | -0.7% |
| 06:45 | France | CPI, y/y | April | 0.7% | 0.4% | 0.3% |
| 06:45 | France | CPI, m/m | April | 0.1% | 0.1% | 0% |
During today's Asian trading, the US dollar changed slightly against the euro and yen after strengthening at the end of the previous session on the statements of US President Donald Trump that the United States needs a strong dollar to support the recovery of the economy after the current crisis.
In the summer of 2019, Trump's statements that too strong a dollar puts pressure on American companies and the economy, putting them at a disadvantage, caused traders to fear that the US may resort to intervention in the foreign exchange market in order to weaken the dollar.
The sharp change in Trump's position may indicate his recognition that fighting the market is a waste of time, experts say.
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 0.12%.
On signals that the Bank of England does not exclude the possibility of reducing the base rate to a negative level, the pound fell by 0.27% against the US dollar.
During a webinar organized by the Financial Times, the head of the Bank of England, Andrew Bailey, said that he considers it wise "never to rule anything out" when asked about the possibility of negative rates.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer