- Asian session review: the US dollar declined against most major currencies
Market news
Asian session review: the US dollar declined against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | Building Permits, m/m | April | -2.6% | -15% | -1.8% |
| 01:30 | Australia | Gross Domestic Product (YoY) | Quarter I | 2.2% | 1.4% | 1.4% |
| 01:30 | Australia | Gross Domestic Product (QoQ) | Quarter I | 0.5% | -0.3% | -0.3% |
| 01:45 | China | Markit/Caixin Services PMI | May | 44.4 | 55.0 | |
| 05:45 | Switzerland | Gross Domestic Product (YoY) | Quarter I | 1.6% | -0.9% | -1.3% |
| 05:45 | Switzerland | Gross Domestic Product (QoQ) | Quarter I | 0.3% | -2% | -2.6% |
During today's Asian trading, the US dollar declined against most of the world's major currencies. Investors continue to pin their hopes on a rapid economic recovery after the coronavirus pandemic, which contributes to demand for risky assets.
Statistics released on Wednesday showed that the Australian economy in the first quarter showed a decline for the first time in nine years. GDP declined by 0.3% compared to the fourth quarter of 2019, according to the country's Bureau of Statistics. In annual terms, the growth was 1.4%.
The focus of traders ' attention this week is the meeting of the European Central Bank (ECB). Experts expect that ECB President Christine Lagarde will announce an expansion of the Pandemic Emergency Purchase program (PEPP), which currently amounts to 750 billion euros, by 500 billion euros. Anything less than this will be a big shock, analysts say.
The ICE Dollar index, which shows the value of the dollar against six major world currencies, fell by 0.28% compared to the previous day.
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