Time | Country | Event | Period | Previous value | Forecast | Actual |
---|
00:30 | Australia | Building Permits, m/m | September | 7.6% | -2% | -4.3% |
01:45 | China | Markit/Caixin Services PMI | October | 53.4 | | 53.8 |
07:00 | United Kingdom | Nationwide house price index, y/y | October | 10% | 9.3% | 9.9% |
07:00 | United Kingdom | Nationwide house price index | October | 0.1% | 0.4% | 0.7% |
During today's Asian trading, the US dollar was trading steadily against major world currencies in anticipation of the outcome of the meeting of the Federal Reserve System, which will end on Wednesday.
The Federal Reserve is expected to announce the beginning of the curtailment of a large-scale quantitative easing (QE) program against the background of sustained inflationary pressure in the United States.
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 0.01%.
The volume of the Federal Reserve's asset repurchase program is currently $120 billion per month. The decision on such large-scale measures was taken in the context of the crisis caused by the COVID-19 pandemic, when the Fed needed to support the American economy. Over the past few months, representatives of the Fed have been actively discussing the question of when to start curtailing this program.
In December last year, the Fed promised to keep the volume of asset repurchases at $120 billion per month "until significant progress is made towards the goals of maximum employment and price stability" in the US economy. Following the results of the November meeting, the Fed is expected to announce that the necessary progress towards these goals has been achieved, experts predict.