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- Asian session review: the US dollar rose against most currencies
Asian session review: the US dollar rose against most currencies
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:01 | Canada | Federal Election | ||||
| 06:00 | Germany | Producer Price Index (YoY) | August | 10.4% | 11.4% | 12% |
| 06:00 | Germany | Producer Price Index (MoM) | August | 1.9% | 0.8% | 1.5% |
During today's Asian trading, the US dollar rose against the euro and the pound, but declined against the yen.
Traders' attention this week is focused on the meeting of the Federal Reserve System( Fed), at which the Central Bank is expected to shed light on the future of the quantitative easing (QE) program. The Federal Reserve has been buying assets worth $120 billion a month since June 2020 as part of this program, and experts are waiting for clear signals from it about when the Central Bank intends to start winding it down. Many believe that the Fed may begin reducing the monthly volume of asset repurchases as early as November.
Following the results of the meeting on September 21-22, the Federal Reserve will publish fresh forecasts for GDP, unemployment and inflation in the United States, as well as a dot plot - a chart reflecting the individual expectations of members of the Fed Board of governors and heads of federal Reserve banks regarding interest rates.
The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.17%.
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