• Asian session review: the dollar declined slightly against the euro and yen

Market news

7 December 2020

Asian session review: the dollar declined slightly against the euro and yen

TimeCountryEventPeriodPrevious valueForecastActual
00:30AustraliaANZ Job Advertisements (MoM)November11.9% 13.9%
03:00ChinaTrade Balance, blnNovember58.4453.575.42
05:00JapanLeading Economic Index October93.3 93.8
05:00JapanCoincident IndexOctober84.8 89.7
07:00GermanyIndustrial Production s.a. (MoM)October2.3%1.6%3.2%


During today's Asian trading, the US dollar fell slightly against the euro and the yen. The focus of traders this week is on negotiations on a new stimulus package in the United States, as well as a meeting of the European Central Bank (ECB).

House speaker Nancy Pelosi said Friday that lawmakers are moving to adopt a compromise budget plan. US President Donald Trump and Republican majority leader in the Senate Mitch McConnell, according to sources, are ready to offer a package of measures to support the economy in the amount of $908 billion.

Weaker-than-expected data on the US labor market, published last Friday, increases the likelihood of a new package of budget incentives, experts say. As reported, the number of jobs in the US economy in November increased by 245 thousand, the lowest rate since May.

Meanwhile, the ECB is expected to announce an increase in the volume of the anti-crisis asset purchase program by 500 billion euros - to 1.85 billion euros at the end of the meeting on December 10. The program is likely to be extended for six months, until the end of 2021. At the same time, experts do not exclude the possibility of extending the program for a whole year - until mid-2022.

The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.17%.

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