Ekonomické zprávy

Asian session review: the US dollar shows negative dynamics

TimeCountryEventPeriodPrevious valueForecastActual
00:30AustraliaNational Australia Bank's Business ConfidenceJanuary  6
02:00New ZealandExpected Annual Inflation 2y from nowQuarter I3.6% 3.3%
04:30JapanIndustrial Production (MoM) December0.2%-0.1%0.3%
04:30JapanIndustrial Production (YoY)December-0.9% -2.4%
07:00United KingdomAverage earnings ex bonuses, 3 m/yDecember6.5%6.5%6.7%
07:00United KingdomAverage Earnings, 3m/y December6.5%6.2%5.9%
07:00United KingdomILO Unemployment RateDecember3.7%3.7%3.7%
07:00United KingdomClaimant count January-3.2 -12.9
07:30SwitzerlandProducer & Import Prices, y/yJanuary3.2% 3.3%

During today's Asian trading, the US dollar declined moderately against major currencies, while investors are preparing for the publication of US inflation data.

The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.17%, to 103.17.

The yen rose 0.3% against the US dollar after the official nomination of Kazuo Ueda as head of the Bank of Japan. As expected, the candidacy of 71-year-old Ueda will be approved by the Japanese Parliament before the end of the term of the current head of the Central Bank Haruhiko Kuroda in this post. Kuroda, who has headed the Bank of Japan since 2013, will step down in early April.

Japanese media reported on Friday that Ueda, who was on the board of governors of the Bank of Japan from 1998 to 2005, was chosen by the government as the next head of the Central Bank. Following this, he spoke to reporters, saying that he considers it necessary to maintain the ultra-soft monetary policy of the Bank of Japan at the moment.

As for the US data, the CPI report will be published at 13:30 GMT. Experts note that the report may confirm that the fight against inflation is far from over, dispelling hopes for an early end to the Fed's monetary tightening cycle. According to experts' forecasts, consumer prices in January increased by 6.2% per annum compared to +6.5% per annum in December.

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