• Asian session review: the US dollar consolidated against major currencies

Market news

3 August 2021

Asian session review: the US dollar consolidated against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:00AustraliaMI Inflation Gauge, m/mJuly0.4%  
01:30AustraliaBuilding Permits, m/mJune-7.6%-4.5%-6.7%
04:30AustraliaAnnouncement of the RBA decision on the discount rate 0.1%0.1%0.1%
07:00SwitzerlandSECO Consumer ClimateQuarter III-7.1 10


During today's Asian trading, the US dollar was trading steadily against the euro, and fell against the pound and the yen.

Traders continue to closely monitor the situation with the spread of the new COVID-19 "delta" strain in the world, trying to assess the potential consequences for the global economy.

The statistical data published on the eve, which showed a slowdown in the growth of activity in the US manufacturing sector, may be a signal that the peak of the recovery in the US economy will already pass.

The ISM Manufacturing index in July fell to the lowest in 6 months - to 59.5 points from 60.6 points a month earlier. Analysts expected the index to grow to 60.9 points,. The value of ISM Manufacturing above 50 points indicates an increase in business activity in the sector, and the index has remained above this mark for 14 consecutive months.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell by 0.01%.

The Australian dollar rose 0.5% against the US dollar. The Reserve Bank of Australia (RBA) at the end of the meeting on Tuesday kept both the key rate and the target yield of three-year government bonds at 0.1%. The central bank said that it will begin to reduce the volume of bond repurchases in September, despite a slight deterioration in the prospects for economic growth due to new restrictive measures introduced in connection with the renewed rise in the incidence of COVID-19. Thus, from next month, the RBA will reduce the repurchase of government bonds to 4 billion Australian dollars per week from 5 billion 

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