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

Market news

8 October 2021

Asian session review: the dollar rose slightly against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:30AustraliaRBA Financial Stability Review    
01:45ChinaMarkit/Caixin Services PMISeptember46.7 53.4
05:00JapanEco Watchers Survey: Current September34.7 42.1
05:00JapanEco Watchers Survey: OutlookSeptember43.7 56.6
06:00GermanyCurrent Account August17.9 11.8
06:00GermanyTrade Balance (non s.a.), blnAugust17.9 10.7


During today's Asian trading, the US dollar consolidated against the euro, but rose against the pound, yen and australian dollar

The focus of the market is on data on the US labor market. 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 Fed to begin winding down the asset purchase program as early as next month, experts say.

The data published on the eve of the US Department of Labor showed a decrease in the number of applications for unemployment benefits in the country. The number of Americans who applied for benefits for the first time decreased by 38 thousand last week - to 326 thousand people. The indicator is near the lowest value since the beginning of the pandemic, recorded in September.

The growth of risk appetite in global markets is facilitated by the progress made by American lawmakers in solving the problem of the US debt limit. The US Senate on Thursday approved a bill raising the debt ceiling by $480 billion - this is the amount in which the US Treasury estimates the country's needs until December 3. The bill must also receive the approval of the House of Representatives, after which it will be sent to US President Joe Biden for signature. The White House has already said that Biden will sign the bill.

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 0.10%

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.