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- Asian session review: the dollar fell against the euro and yen
Asian session review: the dollar fell against the euro and yen
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | China | PPI y/y | March | -0.4% | -1.1% | -1.5% |
| 01:30 | China | CPI y/y | March | 5.2% | 4.8% | 4.3% |
| 06:45 | France | Industrial Production, m/m | February | 1.1% | 0.1% | 0.9% |
During today's Asian trading, the US dollar fell against the euro and the yen.
The day before, the US currency fell in price following the announcement by the Federal reserve system (Fed) of the launch of a number of new and expanding existing programs to support various sectors of the US economy, which should provide a flow of loans totaling about $2.3 trillion.
In particular, the Fed intends to lend to state authorities, cities and medium-sized businesses that lost revenue due to restrictions imposed in the United States to curb the spread of coronavirus. In addition, the Fed will create a mechanism for lending to large companies that have recently lost their investment rating.
The ICE index, which tracks the dollar's performance against six currencies (the euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.08% in trading.
The further development of the situation with coronavirus in the United States, as well as the response measures taken by the administration of American President Donald Trump, will be the key drivers of the dollar in the run-up to the presidential elections in the US scheduled for November, experts say.
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