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31 July 2020

Asian session review: the US dollar declined against the euro and yen

TimeCountryEventPeriodPrevious valueForecastActual
01:00ChinaNon-Manufacturing PMIJuly54.4 54.2
01:00ChinaManufacturing PMI July50.950.751.1
01:30AustraliaProducer price index, y/yQuarter II1.3% -0.4%
01:30AustraliaProducer price index, q / qQuarter II0.2% -1.2%
01:30AustraliaPrivate Sector Credit, y/yJune3.2% 2.9%
01:30AustraliaPrivate Sector Credit, m/mJune-0.1% -0.2%
05:00JapanHousing Starts, y/yJune-12.3%-13.7%-12.8%
05:00JapanConsumer ConfidenceJuly28.4 29.5
05:30FranceGDP, q/qQuarter II-5.9%-15.3%-13.8%
06:00GermanyRetail sales, real unadjusted, y/yJune3.8%3%5.9%
06:00United KingdomNationwide house price index July-1.6%-0.1%1.7%
06:00United KingdomNationwide house price index, y/yJuly-0.1%-0.3%1.5%
06:00GermanyRetail sales, real adjusted June12.7%-3.3%-1.6%
06:30SwitzerlandRetail Sales (MoM)June30.7% 30.5%
06:30SwitzerlandRetail Sales Y/YJune6.2% 1.1%
06:45FranceCPI, y/yJuly0.2%0.3%0.8%
06:45FranceCPI, m/mJuly0.1%-0.1%0.4%
06:45FranceConsumer spending June37.4%3.2%9%


During today's Asian trading, the US dollar declined against the main world currencies amid renewed concerns about the prospects for the recovery of the us economy.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, fell 0.42% from the previous day, and is now trading near two-year lows.

Demand for the US currency fell due to doubts about the rapid recovery of the US economy and the ability of the authorities to bring the coronavirus pandemic under control.

The country's GDP in April-June collapsed by 32.9% in terms of annual rates after a decline of 5% in the 1st quarter, according to preliminary data. This is a record drop during the publication of such information, which began almost immediately after the Second world war. Analysts on average predicted a more significant decline: by 34.1%.

US President Donald trump suggested yesterday that it might be better to postpone the presidential election in November 2020, so as not to resort to voting by mail due to the threat of coronavirus.

However, neither Republicans nor Democrats in the US Congress support the idea of postponing the presidential elections and insist on holding them in November, as planned.

Meanwhile, the US still ranks first in the world in the number of cases of COVID-19 infection. At the moment, more than 4.63 million cases of infection have been registered in the country, and more than 155 thousand people have died.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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