Market news

10 June 2021

Asian session review: the dollar rose slightly against most currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:00AustraliaConsumer Inflation ExpectationJune3.5% 4.4%
05:30FranceNon-Farm PayrollsQuarter I-0.1% 0.3%
06:45FranceIndustrial Production, m/mApril1%0.5%-0.1%


During today's Asian trading, the US dollar rose slightly against the euro and declined moderately against the yen.

Traders are waiting for data on changes in consumer prices in the US in May, which will be released today at 12:30 GMT. The average forecast of analysts suggests an acceleration in inflation to 4.7% in annual terms. Consumer prices rose 4.2% in April, the fastest pace since September 2008.

The US Federal Reserve has previously said that inflationary pressures are temporary as the economy continues to recover from the crisis caused by the COVID-19 pandemic. However, the accelerating pace of the consumer price recovery is causing concern among analysts and traders.

In addition, the focus of traders ' attention is the meeting of the European Central Bank (ECB). The ECB is likely to announce a continuation in the third quarter of the pace of asset repurchases under the anti-crisis program Pandemic Emergency Purchase Program (PEPP) at a similar or slightly lower level compared to the second quarter, analysts predict. At the same time, the regulator may give a more optimistic assessment of the prospects for the euro zone economy, while inflation forecasts are expected to remain virtually unchanged.

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 0.05%.

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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