Ekonomické zprávy
18.10.2021

Asian session review: the US dollar rose against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
02:00ChinaFixed Asset InvestmentSeptember8.9%7.9%7.3%
02:00ChinaIndustrial Production y/ySeptember5.3%4.5%3.1%
02:00ChinaRetail Sales y/ySeptember2.5%3.3%4.4%
02:00ChinaGDP y/yQuarter III7.9%5.2%4.9%


During today's Asian trading, the US dollar rose against the euro, pound, yen, as well as the Australian and New Zealand dollars.

Experts note that the prospects for further strengthening of the dollar remain, as the probability of an early tightening of policy by the Federal Reserve System is growing.

Since the Fed's September meeting, market participants' expectations regarding the prospects for a rate hike have increased as inflationary pressures intensify. Analysts note, in particular, that data from the University of Michigan, published on Friday, showed an increase in Americans' inflation expectations for the medium term (next year) in October to 4.8% from 4.6% a month earlier.

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 0.23%.

Data on China also came into focus. CNBC reports that according to the report from the National Bureau of Statistics, China’s third-quarter GDP grew a disappointing 4.9% as industrial activity rose less than expected in September. GDP grew 4.9% in the third quarter from a year ago. That missed expectations for a 5.2% expansion. Industrial production rose by 3.1% in September, below the 4.5% expected.

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