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- Asian session review: the dollar fell against most major currencies
Asian session review: the dollar fell against most major currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | Westpac Consumer Confidence | April | 111.8 | 118.8 | |
| 02:00 | New Zealand | RBNZ Interest Rate Decision | 0.25% | 0.25% | 0.25% |
During today's Asian trading, the US dollar fell against the euro, yen and pound. The statistical data published on the eve, which showed an increase in inflation in the United States to the highest in more than 2.5 years, could not support the US currency due to the appearance of signals about the possibility of slowing down the pace of vaccination in the world.
Earlier on Tuesday, the US Food and Drug Administration (FDA) recommended suspending the use of the COVID-19 coronavirus vaccine, produced by Johnson & Johnson, due to cases of thrombosis. This has raised concerns that, with the pace of vaccination slowing, the Federal Reserve (Fed) will be forced to start scaling back stimulus measures later than currently expected, despite accelerating inflation.
U.S. consumer price growth (CPI) accelerated to 2.6% year-on-year in March after rising 1.7% in February, Labor Department data showed. Inflation has reached its highest level since August 2018. Analysts on average predicted a rise of 2.5%.
The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.17%.
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