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- Asian session review: the US dollar stabilized against the euro, but rose against the yen
Asian session review: the US dollar stabilized against the euro, but rose against the yen
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 01:30 | China | PPI y/y | January | -0.5% | 0.1% | 0.1% |
| 01:30 | China | CPI y/y | January | 4.5% | 4.9% | 5.4% |
| 05:00 | Japan | Eco Watchers Survey: Current | January | 39.8 | 40.5 | 41.9 |
| 05:00 | Japan | Eco Watchers Survey: Outlook | January | 45.4 | 47.1 | 41.8 |
| 06:45 | Switzerland | Unemployment Rate (non s.a.) | January | 2.5% | 2.6% |
The US dollar was almost unchanged against the euro and strengthened against the Japanese currency in trading on Monday.
The yuan rose against the dollar thanks to liquidity injections by the People's Bank of China. The Central Bank of China continues to support financial markets in the context of the spread of the coronavirus. On Monday, the Central Bank poured 900 billion yuan ($129 billion) into the financial system through reverse REPO operations.
Investors fear for the economy of China and the world, as the coronavirus poses a threat to a number of industries, including tourism, trade and transportation. On Monday, some enterprises in China return to work after a long vacation, while others remain closed.
Chinese data also came into focus. Consumer prices in China were up 5.4 percent on year in January, the National Bureau of Statistics said. That exceeded forecasts for an increase of 4.9 percent following the 4.5 percent gain in December.
The ICE Dollar index, which shows the value of the US dollar against six major world currencies, fell by 0.03% compared to the previous day.
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