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Ekonomické zprávy
24.02.2022

Asian session review: the US dollar rose against most major currencies

TimeCountryEventPeriodPrevious valueForecastActual
00:30AustraliaPrivate Capital ExpenditureQuarter IV-2.2%2.6%1.1%
07:30SwitzerlandNon Farm PayrollsQuarter IV5.213 5.239
07:45FranceConsumer confidence February9910098


During today's Asian trading, the US dollar rose against major currencies, but declined against the yen, as the escalation of the military situation in Ukraine increased demand for safe haven assets.

The market's attention is focused on the development of the situation in Eastern Europe. Russian President Vladimir Putin, after recognizing the independence of the Donetsk and Luhansk People's Republics on Tuesday, decided to launch a special military operation against the backdrop of the situation in Donbass on Thursday morning. President of Ukraine Volodymyr Zelensky announced the introduction of martial law throughout the country.

Traders are also watching for possible hints from the ECB regarding the prospects for a change in the monetary policy of the bloc against the background of the continued growth of inflationary pressure in the eurozone. However, there are growing bets that the ECB will take a more cautious position due to the risks emanating from the development of the Ukrainian crisis.

The market still expects the rate to rise by 10 basis points at the July ECB meeting, but forecasts for a rise of another 50 bps at the end of this year began to weaken.

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 0.40%.

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