- Asian session review: the euro is trading at a 2-month high against the US dollar
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Asian session review: the euro is trading at a 2-month high against the US dollar
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Japan | Manufacturing PMI | May | 41.9 | 38.4 | 38.4 |
| 01:00 | Australia | MI Inflation Gauge, m/m | May | 0.2% | -1.2% | |
| 01:45 | China | Markit/Caixin Manufacturing PMI | May | 49.4 | 49.6 | 50.7 |
In today's Asian trading, the euro continued to rise against the US dollar after reaching a two-month high on Friday.
Last week, the euro was supported by the European Commission's proposal to create a financial instrument for post-crisis recovery of the EU economy in the amount of 750 billion euros.
"The European recovery Fund can really accelerate the growth of the single currency, as it gives hope for a prosperous future of the European Union, and especially the Euro," says ActivTrades analyst Ricardo Evangelista.
In addition, he noted that the dollar on Friday was influenced by the publication of data from the us Department of Commerce, according to which spending by the country's population in April decreased by 13.6% compared to the previous month.
Meanwhile, the head of the us Federal reserve system (Fed), Jerome Powell, said that negative interest rates are not suitable for the US.
The ICE Dollar index, which shows the value of the us dollar against six major world currencies, fell by 0.37% compared to the previous trading day.
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