• Asian session review: the US dollar declined slightly against major currencies

Market news

7 October 2021

Asian session review: the US dollar declined slightly against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
05:00JapanCoincident IndexAugust94.4 91.5
05:00JapanLeading Economic Index August104.1 101.8
05:45SwitzerlandUnemployment Rate (non s.a.)September2.7% 2.6%
06:00United KingdomHalifax house price indexSeptember0.8% 1.7%
06:00United KingdomHalifax house price index 3m Y/YSeptember7.2% 7.4%
06:00GermanyIndustrial Production s.a. (MoM)August1.3%-0.4%-4%
06:45FranceTrade Balance, blnAugust-7.08 -6.67
07:00Switzerland Foreign Currency ReservesSeptember929.292 939.809


During today's Asian trading, the US dollar fell against the euro, the pound and the australian dollar, 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), fell by 0.13%.

Meanwhile, analysts note that some progress in solving the problem of the US government debt limit contributes to an increase in risk appetite in global markets.

The leader of the Republican minority in the Senate, Mitch McConnell, said yesterday that Republicans are ready to support an emergency increase in the debt limit by a fixed amount that will cover the state's expenses until the December deadline. Democratic senators have made it clear that they will accept the Republican proposal. This will eliminate the threat of a state default in the near future, but will postpone the political battle over the issue of the debt limit to the end of this year.

The focus of the market this week is September data on the number of jobs in the United States, which will be released on Friday. Experts on average expect an increase in the number of jobs by 500 thousand and a decrease in unemployment to 5.1% from 5.2%.

The September employment growth rate is likely to be sufficient for the Federal Reserve to begin winding down the asset repurchase program this year, experts say.

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