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

Market news

16 September 2021

Asian session review: the dollar rose slightly against most currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:30AustraliaRBA Bulletin    
01:30AustraliaChanging the number of employedAugust3.1-90-146.3
01:30AustraliaUnemployment rateAugust4.6%4.9%4.5%
07:00SwitzerlandSECO Economic Forecasts     


During today's Asian trading, the US dollar rose against the euro and the pound, but was almost unchanged against the yen.

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 0.13%.

The Federal Reserve System (Fed) is preparing for the next meeting, which will be held next week. The August data on inflation in the United States, which showed a slight slowdown in consumer price growth, is probably good news for the Federal Reserve, as the leaders of the Fed expressed confidence that the inflationary pressure that has increased due to the pandemic is temporary, experts say.

Consumer prices in August increased by 5.3% compared to the same month last year, the Ministry of Labor reported. In July, the increase was 5.4%, becoming the highest in 13 years.

"Inflationary pressure in the United States began to weaken last month, confirming the forecasts of the Federal Reserve leaders, as well as market participants who had long expected that the pace of consumer price recovery would slow down when the effects of the pandemic begin to fade," said Karl Shamotta, an analyst at Cambridge Global Payments.

According to him, the slowdown in inflation may weaken investors ' expectations regarding the pace of raising the base interest rate by the Fed. At the same time, inflation is still quite high and has only slightly fallen from the 13-year low recorded in July.

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