• Asian session review: the US dollar rose on the background of the results of the Fed meeting

Notícias do Mercado

17 setembro 2020

Asian session review: the US dollar rose on the background of the results of the Fed meeting

TimeCountryEventPeriodPrevious valueForecastActual
01:30AustraliaRBA Bulletin    
01:30AustraliaChanging the number of employedAugust119.2-50111
01:30AustraliaUnemployment rateAugust7.5%7.7%6.8%
03:00JapanBoJ Interest Rate Decision -0.1%-0.1%-0.1%
06:00SwitzerlandTrade BalanceAugust2.49 3.4


During today's Asian trading, the US dollar rose against major currencies after the end of the two-day meeting of the US Federal reserve system.

The ICE index, which tracks the dynamics of the US dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.16%.

The Fed kept the interest rate on federal loan funds in the range from 0% to 0.25% per annum. Most Fed officials expect the benchmark interest rate to remain in the current range until the end of 2023.

The Fed also improved its forecast for US GDP for 2020, but lowered its forecasts for 2021-2022. According to the Federal reserve's September forecast, US GDP will fall by 3.7% this year, grow by 4% in 2021 and by 3% in 2022. In June, the Fed expected GDP to fall by 6.5% in 2020 and grow by 5% and 3.5% respectively in the next two years.

Meanwhile, the Bank of Japan at the end of the next meeting, which ended on Thursday, kept ultra-soft parameters of monetary policy, as predicted by most experts. The short-term interest rate on deposits of commercial banks is left at -0.1% per annum, the target yield of ten-year government bonds of Japan is about zero.

Today, traders are waiting for the publication of final data on changes in consumer prices in the euroarea in August. According to preliminary data, consumer prices in the region last month decreased by 0.2% in annual terms. The decline was observed for the first time since may 2016.

The Bank of England will announce the results of its September meeting today. Most economists and market analysts believe that the regulator will refrain from adjusting monetary policy at the moment.

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