Ekonomické zprávy

Asian session review: the US dollar declined against major currencies

TimeCountryEventPeriodPrevious valueForecastActual
05:00JapanLeading Economic Index December103.9 104.8
05:00JapanCoincident IndexDecember92.892.692.7
07:00GermanyGDP (QoQ)Quarter IV1.7%-0.7%-0.3%
07:00GermanyGDP (YoY)Quarter IV2.9%1.4%1.8%
07:45FranceCPI, m/mFebruary0.3%0.3%0.7%
07:45FranceCPI, y/yFebruary2.9%3.2%3.6%
07:45FranceConsumer spending January0%-0.5%-1.5%
07:45FranceGDP, q/qQuarter IV3.1%0.7%0.7%
07:45FranceGDP, Y/YQuarter IV3.5%5.4%5.4%

During today's Asian trading, the US dollar fell against major currencies, following a significant increase yesterday, as investors fixed profits and followed the development of the situation in Ukraine.

The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) declined by 0.25% after rising by 0.98% yesterday.

On the eve of Russia launched a military special operation in the Donbass. In response, the United States, the EU, the United Kingdom and a number of other Western countries announced the introduction of economic sanctions against Russia and Russian companies.

In addition, FX market participants assess the future prospects of monetary policy in the United States and the eurozone. Analysts expect that the Federal Reserve System (Fed) will raise the key rate in March, and the European Central Bank (ECB) - by the end of this year amid growing inflationary pressure.

Meanwhile, the yuan rose against the dollar amid expectations that China will cope better with external shocks than other major economies in the world. According to analysts, a huge domestic market and well-established supply chains will help protect China's economy from external shocks. In addition, Western sanctions may force Russian companies to start diversifying assets in favor of yuan, analysts say.

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