| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | United Kingdom | Retail Sales (MoM) | May | 0.4% | -0.7% | -0.5% |
| 06:00 | United Kingdom | Retail Sales (YoY) | May | -5.7% | -4.5% | -4.7% |
During today's Asian trading, the US dollar declined slightly against major currencies, as market participants continue to evaluate the statements of the head of the Federal Reserve System (Fed) Jerome Powell about the risks of a recession and rising unemployment.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, сanadian dollar, pound sterling and іwedish krona) declined by 0.15% after rising by 0.20% on Thursday.
The currency market followed Powell's speeches during the two-day hearings in the US Congress. Powell appeared before the Senate Banking Committee on Wednesday, and before the House Financial Services Committee on Thursday.
In his speech on Thursday, the head of the Federal Reserve said that the regulator's efforts to curb inflation will not necessarily cause weakness in the US labor market, but there is a risk that unemployment in the country may rise from the current level.
On Wednesday, Powell acknowledged the risks of a recession in the US economy due to the policy of increasing interest rates, but noted that these risks "are not particularly elevated at the moment."
The head of the Fed also added that the Central Bank plans to continue the cycle of tightening policy until it sees clear evidence of slowing inflation in the country and approaching the target level of 2%.