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05.01.2015 07:30

Foreign exchange market. Asian session: U.S. dollar rallies against major peers – only yen gains

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

01:35 Japan Manufacturing PMI (Finally) December 52.1 52.0

The greenback traded broadly stronger against its major peers only losing versus the Japanese yen despite a disappointing ISM Manufacturing Index and Construction Spending published on Friday. The U.S. dollar continued to rally against the euro who fell to its weakest in almost 9 years before regaining some ground. The Eurozone single currency traded as low as USD1.1867, the weakest level since March 2006, in today's session amid speculations that the ECB will large start bond purchases and upcoming elections in Greece where the anti-austerity party Syriza is going to win on January 25th according to polls. In an interview published on Friday ECB President Mario Draghi said the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than half a year ago. A strong sign that the ECB is ready to start Quantitative Easing.

The Australian dollar further slumped to its lowest since 2009 currently trading at USD0.8048 with other commodity-currencies also declining.

New Zealand's dollar lost against the greenback again trading close to its lows hit on December 2014 continuing a slump started last Friday.

The Japanese yen traded stronger during the Asian against the greenback being currently quoted around USD120 despite a Japanese Manufacturing PMI that declined for the month of December to 52.0 from a previous reading of 52.1. Investors look ahead to Japan's Monetary Base due 23:50 GMT. The Japanese currency was supported by investors looking for a haven as Asian stocks declined.

EUR/USD: the euro slumped against the greenback

USD/JPY: the U.S. dollar slightly weaker against the yen

GPB/USD: The British pound lost against the U.S. dollar


The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

08:30 Switzerland Manufacturing PMI December 52.1 52.9

09:30 Eurozone Sentix Investor Confidence January -2.5 -0.9

09:30 United Kingdom PMI Construction December 59.4 59.2

13:00 Germany CPI, m/m (Preliminary) December 0.0% +0.1%

13:00 Germany CPI, y/y (Preliminary) December +0.6% +0.4%

19:30 U.S. Total Vehicle Sales, mln December 17.2 16.9

23:50 Japan Monetary Base, y/y December +36.7% +34.3%

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