- Asian session review: the US dollar fell slightly
Market news
Asian session review: the US dollar fell slightly
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 02:00 | New Zealand | RBNZ Interest Rate Decision | 0.25% | 0.25% | 0.25% | |
| 03:00 | New Zealand | RBNZ Press Conference | ||||
| 05:00 | Japan | Coincident Index | April | 88.8 | 81.5 | 80.1 |
| 05:00 | Japan | Leading Economic Index | April | 85.1 | 76.2 | 77.7 |
The dollar was under pressure on Wednesday, after positive data in Europe boosted the Euro and helped raise hopes for a global economic recovery,
According to the report from IHS Markit, the flash Eurozone Composite PMI beat expectations, reaching 47.5, compared with 31.9 in May. While this is still below the 50 mark that separates growth from decline, improving business sentiment - along with upbeat data in the UK and US - has supported the sense that growth is returning at a pace.
The next important release will be the German business survey at 08: 00 GMT, when markets expect another strong rebound. Markets expect another strong rebound of indicators from the IFO.
The New Zealand dollar fell to $ 0.6468 after the New Zealand's central bank said the balance of economic risks remains negative and it is ready to use additional monetary instruments as needed. However, the RBNZ decided to hold its interest rate at a record low 0.25 percent. The asset purchase programme was retained at NZ$60 billion after raising it from GBP 33 billion last month.
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