• Asian session review: the dollar rose against most currencies

Market news

18 March 2021

Asian session review: the dollar rose against most currencies

TimeCountryEventPeriodPrevious valueForecastActual
00:30AustraliaRBA Bulletin    
00:30AustraliaUnemployment rateFebruary6.4%6.3%5.8%
00:30AustraliaChanging the number of employedFebruary29.53088.7
07:00SwitzerlandTrade BalanceFebruary3.58 3.34
07:30SwitzerlandProducer & Import Prices, y/yFebruary-2.1% -1.1%
08:00EurozoneECB President Lagarde Speaks    


During today's Asian trading, the US dollar rose against the euro and the yen after the end of the US Federal Reserve meeting the day before.

The Fed kept the interest rate in the range from 0% to 0.25% per annum. The decision coincided with the forecasts of economists and market participants. In addition, the Federal Reserve raised its forecasts for US GDP growth for 2021 and 2022. According to the regulator's March forecast, US GDP will increase by 6.5% this year and by 3.3% next year. In December, the Fed expected GDP to increase by 4.2% and 3.2%, respectively.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.15%.

Investors are also waiting for the results of the meetings of the Bank of Japan and the Bank of England this week.

The Bank of Japan, most likely, according to the results of the meeting, which will be known on Friday, will keep the short - term interest rate on deposits of commercial banks in the Central Bank at -0.1% per annum, the target yield of ten-year government bonds of Japan-about zero, economists say. Investors are also awaiting the release of the results of the Bank of Japan's largest monetary policy review since 2016.

The Bank of England today is likely to leave the key rate at 0.1% and will not make changes to the asset purchase program, experts predict.

The Australian dollar rose 0.25% against the US dollar on the back of data on the Australian labor market. Australia's seasonally adjusted unemployment rate fell to 5.8% in February from 6.4% a month earlier, the Australian Bureau of Statistics said. This is the lowest figure since March last year, that is, since the beginning of the COVID-19 pandemic.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.