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- Asian session review: the euro rose against most major currencies
Asian session review: the euro rose against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:00 | Germany | Producer Price Index (MoM) | June | -0.4% | 0.2% | 0.0% |
| 06:00 | Germany | Producer Price Index (YoY) | June | -2.2% | -1.5% | -1.8% |
During today's Asian trading, the euro rose against the US dollar, yen and pound on news of the ongoing fourth day of the EU summit.
Negotiations of the 27 EU member States at the Brussels summit, scheduled for two days, continue on Monday for the fourth day in a row. European media noted the tense atmosphere of discussions on the EU budget for 2021-2027 and the plan for anti-crisis economic recovery.
The yen is getting cheaper against the dollar and euro. Data released on Monday showed that Japanese exports fell 26.2% year-on-year in June, with a double-digit rate of decline recorded for the fourth month in a row.
The yuan is getting more expensive against the dollar. The People's Bank of China (PBOC) kept its benchmark annual interest rate at 3.85%. The country's Central Bank left the rate unchanged for the third month in a row after cutting 20 basis points in April to revive the economy. This decision met market expectations due to signs of recovery in the country's economy.
The ICE Dollar index, which shows the value of the dollar against six major world currencies, fell 0.08% relative to the previous trading day.
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