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- Asian session review: the yen rose significantly against the US dollar
Asian session review: the yen rose significantly against the US dollar
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 05:00 | Japan | Eco Watchers Survey: Current | February | 41.9 | 44.6 | 27.4 |
| 05:00 | Japan | Eco Watchers Survey: Outlook | February | 41.8 | 45.7 | 24.6 |
| 06:45 | Switzerland | Unemployment Rate (non s.a.) | February | 2.6% | 2.5% | |
| 07:00 | Germany | Current Account | January | 24.8 | 20.1 | 16.6 |
| 07:00 | Germany | Industrial Production s.a. (MoM) | January | -2.2% | 1.7% | 3.0% |
| 07:00 | Germany | Trade Balance (non s.a.), bln | January | 15.2 | 13.9 |
On Monday, the Japanese yen rose against the US dollar as Asian stock markets collapsed amid falling oil prices. The yen jumped almost 3% and was close to its highest level in three years.
Zach Pandl, a Goldman Sachs expert, said last week that the yen could reach the 95 mark if global markets remain in limbo for the next couple of months.
The deepening of the coronavirus outbreak and the collapse in oil prices were named today as the main "tailwind" for the "safe haven".
The day after Saudi Arabia, the world's leading oil exporter, promised to lower oil prices and significantly increase its production level, oil prices fell by 30%.
Meanwhile, the US dollar index, which tracks the exchange rate of this currency against a basket of other currencies, fell by 1.1%.
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