- Asian session review: the US dollar rose against the euro
Market news
Asian session review: the US dollar rose against the euro
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | Australia | Construction Work Done | Quarter II | 0.7% | -5.8% | -0.7% |
| 05:00 | Japan | Leading Economic Index | June | 78.3 | 85.0 | 84.4 |
| 05:00 | Japan | Coincident Index | June | 72.9 | 76.4 | 76.6 |
| 06:45 | France | Consumer confidence | August | 94 | 94 | 94 |
In today's Asian trading, the US dollar rose against the euro after declining in the previous session.
The ICE index, which tracks the dynamics of the US dollar against six currencies (the euro, swiss franc, yen, canadian dollar, pound and swedish krona), rose 0.1% in trading on Tuesday.
Meanwhile, the dollar was trading steadily against the yen and the australian dollar.
Traders' attention is focused on the Federal reserve bank event in Kansas city starting on Thursday, where Federal reserve Chairman Jerome Powell is scheduled to speak. The symposium, organized by the Federal reserve bank of Kansas city, annually gathers the heads of world Central banks, finance ministers, academics and financial market participants in Jackson Hole. This year's event will be held online on August 27-28, with the theme "Moving into the next decade: consequences of monetary policy".
Powell is expected to talk in his speech about a long-running review of the Fed's strategy.
According to analysts, Powell's upcoming speech may determine which way the dollar will go, "standing at a fork in the road."
"His words can both attract "bears" and ensure the strengthening of the dollar for the next few weeks," according to AxiCorp analyst Stephen Innes
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