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Asian session review: the dollar was almost unchanged against the major currencies

TimeCountryEventPeriodPrevious valueForecastActual
01:30AustraliaPrivate Capital ExpenditureQuarter I4.2%2%6.3%
06:00SwitzerlandTrade BalanceApril3.9 3.3
06:00GermanyGfk Consumer Confidence SurveyJune-8.6-5.2-7

During today's Asian trading, the US dollar was trading steadily against the major currencies, following yesterday's rally.

The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose 0.03%.

Investors today expect the publication of revised data on the change in US GDP in the 1st quarter of 2021. As part of the GDP report, the dynamics of the PCE Core index, a key indicator of inflation tracked by the Federal Reserve System (Fed), is traditionally published. The consensus forecast of experts provides for the growth of the PCE Core index in the first quarter by 2.3%. In the fourth quarter of last year, the index increased by 1.3%.

The Vice Chairman of the Federal Reserve System (Fed), Randal Quarles, said yesterday that the regulator will need to start discussing changes in the pace of asset repurchases at the next meetings if the US economy continues to recover confidently. Quarles expects US inflation to temporarily exceed the 2% target as the economy recovers and unemployment declines.

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