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30.06.2022

Asian session review: the US dollar is showing negative dynamics

TimeCountryEventPeriodPrevious valueForecastActual
01:00New ZealandANZ Business ConfidenceJune-55.6 -62.6
01:30AustraliaPrivate Sector Credit, y/yMay8.6% 9.0%
01:30AustraliaPrivate Sector Credit, m/mMay0.9% 0.8%
01:30ChinaNon-Manufacturing PMIJune47.8 54.7
01:30ChinaManufacturing PMI June49.650.550.2
05:00JapanConstruction Orders, y/yMay30.5% 30.5%
05:00JapanHousing Starts, y/yMay2.4%1.7%-4.3%
06:00United KingdomNationwide house price index, y/yJune11.2%10.8%10.7%
06:00United KingdomNationwide house price index June0.9%0.5%0.3%
06:00GermanyRetail sales, real adjusted May-5.4%0.5%0.6%
06:00United KingdomBusiness Investment, q/qQuarter I1%-0.5%-0.6%
06:00United KingdomBusiness Investment, y/yQuarter I1%8.5%8.3%
06:00GermanyRetail sales, real unadjusted, y/yMay-0.4%-2%-3.6%
06:00United KingdomCurrent account, bln Quarter I-7.3-39.8-51.7
06:00United KingdomGDP, q/qQuarter I1.3%0.8%0.8%
06:00United KingdomGDP, y/yQuarter I6.6%8.7%8.7%
06:30SwitzerlandRetail Sales (MoM)May-0.9% 1.1%
06:30SwitzerlandRetail Sales Y/YMay-5.5% -1.6%
06:45FranceConsumer spending May-0.7%0.2%0.7%
06:45FranceCPI, m/mJune0.7%0.7%0.7%
06:45FranceCPI, y/yJune5.2%5.7%5.8%


During today's Asian trading, the US dollar declined slightly against major currencies amid partial profit-taking by investors after yesterday's rally.

The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.07%. On Wednesday, the index rose by 0.53%.

Today, investors will focus on the report of the US Department of Commerce on household spending and income for May, which includes key inflation indicators tracked by the Federal Reserve System - the PCE and PCE Core indices. Experts expect that spending increased by 0.4% last month, incomes - by 0.5%.

Yesterday, Fed Chairman Jerome Powell, speaking at the European Central Bank forum in Sintra, Portugal, said that the US economy is in a good position to cope with the tightening of the Fed's monetary policy and the central bank expects it to continue to grow, but it cannot give guarantees of a "soft landing". Fighting inflation is likely to cause the economy "some pain," but "the pain will be greater if we cannot cope with high inflation, Powell said.

Meanwhile, ECB President Christine Lagarde said at the same forum that she does not expect the global economy to return to the low-inflationary environment in which it has been in the last 10 years.

"I believe that the forces released as a result of the COVID-19 pandemic and as a result of the large-scale geopolitical shock that we are facing now will change the landscape in which we will be," she said.

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