- Asian session review: the dollar rose against the euro and fell against the yen
Market news
Asian session review: the dollar rose against the euro and fell against the yen
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 02:00 | China | Retail Sales y/y | May | -7.5% | -2% | -2.8% |
| 02:00 | China | Industrial Production y/y | May | 3.9% | 5% | 4.4% |
| 02:00 | China | Fixed Asset Investment | May | -10.3% | -5.9% | -6.3% |
| 04:30 | Japan | Tertiary Industry Index | April | -3.8% | -6.0% | |
| 06:30 | Switzerland | Producer & Import Prices, y/y | May | -4% | -4.6% | -4.5% |
In today's Asian trading, the US dollar rose against the euro and declined against the Japanese yen on worries about a possible second wave of the coronavirus pandemic.
The ICE Dollar index, which shows the value of the dollar against six major world currencies, rose by 0.03% compared to the previous day.
Traders are following news regarding the increase in the number of new infections with the COVID-19 coronavirus infection in the United States and China, amid fears that a second wave of the disease could cause even more damage to the global economy.
Over the past years, 67 new cases of coronavirus infection have been detected in China,including 49 active patients and 18 asymptomatic carriers. In Beijing, after a long break, 36 new active cases of infection were registered for the second day in a row. The first were identified in the capital's Fengtai district at the Xinfadi wholesale market.
The Australian dollar is sensitive to changes in global economic forecasts and commodity prices. According to CBA experts, the market's revaluation of the world economy forecast may push the AUD/USD pair to the $0.6665. Additional pressure on the Australian dollar may be exerted by data on the labor market, which will be published on Thursday.
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