- European session review: USD and JPY appreciate amid Delta COVID variant worries
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European session review: USD and JPY appreciate amid Delta COVID variant worries
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:00 | United Kingdom | Nationwide house price index | June | 1.7% | 0.7% | 0.7% |
| 06:00 | United Kingdom | Nationwide house price index, y/y | June | 10.9% | 13.7% | 13.4% |
| 06:45 | France | Consumer confidence | June | 98 | 100 | 102 |
| 08:30 | United Kingdom | Consumer credit, mln | May | -0.23 | 0.24 | 0.28 |
| 08:30 | United Kingdom | Mortgage Approvals | May | 86.9 | 85.9 | 87.5 |
| 08:30 | United Kingdom | Net Lending to Individuals, bln | May | 2.8 | 6.9 | |
| 09:00 | Eurozone | Consumer Confidence | June | -5.1 | -3.3 | -3.3 |
| 09:00 | Eurozone | Industrial confidence | June | 11.5 | 12.3 | 12.7 |
| 09:00 | Eurozone | Economic sentiment index | June | 114.5 | 116.5 | 117.9 |
USD and JPY rose against other major currencies in the European session on Tuesday as demand for “safe-haven” assets increased amid raised worries that the spread of the highly-infectious Delta coronavirus variant and the restrictions reinforced by some countries to contain its spread could delay global economic recovery.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, rose 0.19% to 92.07. JPY edged higher against USD.
Market participants also await the key U.S. payrolls data, which are scheduled to be released on Friday and are expected to help determine the pace of improvement in the labor market. Economists are forecasting that nonfarm payrolls increased by 690,000 in June. Some believe that better-than-expected jobs reading could lead to a more hawkish Federal Reserve.
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