Ekonomické zprávy
11.11.2021

Asian session review: the dollar rose against most major currencies

TimeCountryEventPeriodPrevious valueForecastActual
00:30AustraliaChanging the number of employedOctober-141.150-46.3
00:30AustraliaUnemployment rateOctober4.6%4.8%5.2%
07:00United KingdomManufacturing Production (MoM) September0.3%0.2%-0.1%
07:00United KingdomIndustrial Production (MoM)September1.0%0.2%-0.4%
07:00United KingdomManufacturing Production (YoY)September4.2%3.1%2.8%
07:00United KingdomBusiness Investment, y/yQuarter III12.9% 0.8%
07:00United KingdomBusiness Investment, q/qQuarter III4.5%2.6%0.4%
07:00United KingdomIndustrial Production (YoY)September4.0%3.1%2.9%
07:00United KingdomTotal Trade BalanceSeptember-1.9 -2.8
07:00United KingdomGDP m/mSeptember0.2%0.4%0.6%
07:00United KingdomGDP, y/yQuarter III23.6%6.8%6.6%
07:00United KingdomGDP, q/qQuarter III5.5%1.5%1.3%
07:00United KingdomGDP, y/ySeptember6.9%5.4%5.3%


During today's Asian trading, the dollar rose against the euro, the pound, and Australian and New Zealand dollars as investors continued to assess the latest US data.

According to the Labor Department, consumer prices in the United States in October grew by 6.2% compared to the same month last year - the fastest rate for almost 31 years (November 1990). A month earlier, inflation in the US was 5.4%, and experts expected it to accelerate to 5.8% in October.

Investors are closely watching the US inflation data, as they are key for the Federal Reserve System to make decisions on the future direction of monetary policy. If inflation does not begin to weaken, the Federal Reserve will probably have to accelerate the pace of curtailing the asset purchase program and move to raising the rate, experts say.

According to the CBA, the probability of a Fed rate hike in December 2022 is estimated by the market at 64%, compared with 58% before the publication of October inflation data. Traders' expectations regarding the rate hike will grow, and this will provide support for the US dollar, CBA analysts say. In their opinion, increased inflation in the United States is more likely to be stable than temporary, since long-term inflation expectations of Americans have increased significantly, and the pace of wage growth has accelerated.

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 0.16%.

Podívejte se také