- Asian session review: the dollar rose against major currencies before the Fed meeting
Market news
Asian session review: the dollar rose against major currencies before the Fed meeting
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 07:00 | United Kingdom | Average earnings ex bonuses, 3 m/y | November | 2.8% | 3.2% | 3.6% |
| 07:00 | United Kingdom | Average Earnings, 3m/y | November | 2.8% | 2.9% | 3.6% |
| 07:00 | United Kingdom | ILO Unemployment Rate | November | 4.9% | 5.1% | 5% |
| 07:00 | United Kingdom | Claimant count | December | 38.1 | 35 | 7 |
During today's Asian trading, the US dollar rose against the euro and fell slightly against the yen.
Traders are trying to avoid risks against the background of the continued high incidence of COVID-19 in a number of regions of the world. Concerns about the spread of new strains of coronavirus are dampening the optimism created by the advent of vaccines, analysts say.
In addition, doubts are growing that US President Joe Biden will be able to pass through Congress his plan to support the economy of $1.9 trillion, given the clear opposition from Republicans.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.2%.
The Federal Reserve System begins a two-day meeting on Tuesday, but traders do not expect any important steps from it. The base interest rate is likely to remain at 0-0. 25% per annum in the coming years, and the only point where changes are possible in the foreseeable future concerns the timing of the asset purchase program, experts say.
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