- European session review: Dollar rises ahead of Fed statement
Market news
European session review: Dollar rises ahead of Fed statement
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | Leading Index | February | -0.1% | 0.02% | |
| 09:00 | France | IEA Oil Market Report | ||||
| 10:00 | Eurozone | Construction Output, y/y | January | 0% | -1.9% | |
| 10:00 | Eurozone | Harmonized CPI, Y/Y | February | 0.9% | 0.9% | 0.9% |
| 10:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | February | 1.4% | 1.1% | 1.1% |
| 10:00 | Eurozone | Harmonized CPI | February | 0.2% | 0.2% | 0.2% |
During today's European trading, the US dollar rose slightly as traders await the conclusion of the US Federal Reserve's two-day meeting, which will present recommendations for future monetary policy. Investors will be closely watching the Fed's comments on bond yields. Government bond yields around the world jumped on expectations that economic growth and inflation could lead to a faster-than-expected normalization of monetary policy.
The yen fell against the dollar, and is trading near a nine-month low, ahead of the Bank of Japan's two-day meeting, which ends on Friday.
The pound rose against the dollar ahead of the Bank of England's meeting on Thursday. Analysts predict that the central bank will keep its benchmark interest rate at a historic low of 0.1% and will not change the terms of the bond purchase program.
The euro has fallen slightly as concerns grow about further restrictions in Europe and delays in vaccination.
The ICE Dollar index, which shows the value of the US dollar against six major world currencies, rose by 0.11%.
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