• Asian session review: the dollar declined slightly against most currencies

Market news

19 April 2021

Asian session review: the dollar declined slightly against most currencies

TimeCountryEventPeriodPrevious valueForecastActual
04:30JapanIndustrial Production (MoM) February3.1%-2.1%-1.3%
04:30JapanIndustrial Production (YoY)February-5.3% -2.0%


During today's Asian trading, the US dollar rose slightly against the euro, but fell against the pound and the yen.

The focus of the market this week is the meeting of the European Central Bank (ECB), which will be held on Thursday. Traders do not expect the ECB to take any action, but will wait for signals from it regarding the future normalization of policy. "The ECB is likely to leave both the level of key rates and the volume of asset repurchases unchanged. The tone of this meeting will be similar to the one in March, the ECB will remain in a wait - and-see position and will assess the change in financial conditions against the backdrop of the economic recovery," TD Securities experts said.

Goldman Sachs experts raised the three-month target for EUR/USD to $1.25 per euro from $1.21, noting, in particular, the expected improvement in the situation in the euro area.

The yield on 10-year US Treasuries on Monday is 1.562% per annum, compared with 1.584% on Friday. Interest rates fell last week on fears of a slowdown in the global vaccination rate after information emerged that the US Food and Drug Administration (FDA) had recommended suspending the use of Johnson & Johnson's COVID-19 coronavirus vaccine due to cases of thrombosis.

The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.06%.

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