|00:30||Australia||RBA Meeting's Minutes|| || || || |
|00:30||Japan||Nikkei Services PMI||February||52.3|| ||53.6|
|00:30||Japan||Manufacturing PMI||February||48.9|| ||47.4|
|07:00||Switzerland||Trade Balance||January||2.8|| ||3.1|
|07:00||United Kingdom||PSNB, bln||January||-24.8|| ||6.2|
During today's Asian trading, the US dollar rose moderately against major currencies, offsetting yesterday's decline, while investors are waiting for the publication of the minutes of the February meeting of the Federal Reserve System (Fed), following which the Central Bank raised the interest rate by 25 basis points, to 4.5-4.75%.
Experts believe that the minutes can confirm the Fed's intention to continue raising rates longer than previously planned. Overall, the latest data on the US economy cast doubt on the arguments that the Fed may soon stop the cycle of raising the rate or even move to reduce it. Fed funds futures currently imply about a 16% chance of a 0.5% rate hike at the March meeting, while in Europe a 50 bp hike in March is all but priced in.
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) rose by 0.25% to 104.11. Yesterday, the index fell by 0.1%. Tuesday's European and U.S. manufacturing data and Friday's core PCE price index will guide the next steps.