| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 01:30 | China | Non-Manufacturing PMI | March | 50.4 | 50.5 | 50.8 |
| 01:30 | China | Manufacturing PMI | March | 50.2 | 50.5 | 50.5 |
| 06:00 | Germany | Retail sales, real adjusted | February | 0.7% | 0% | 0.8% |
| 06:00 | Germany | Retail sales, real unadjusted, y/y | February | 3.3% | 3.2% | 4.9% |
During today's Asian trading, the US dollar declined significantly against major currencies as market participants prepare for a new round of reciprocal levies that the US is due to announce on Wednesday.
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 0.42% to 103.82. Yesterday, Trump said that essentially all countries will be slapped with duties this week. Investors fear that these tariffs will increase inflation and slow down economic growth. Experts said that it is obvious that the tariff announcements this Wednesday will bring little clarity, however, it is unlikely that this will eliminate uncertainty, which is clearly negatively affecting markets, as well as businesses and consumers. Pressure on the dollar was also exerted by a decrease in US bond yields amid increased demand for safe haven assets. The yield on 10-year Treasury bonds decreased by 5.7 basis points to 4.198%, while the yield on 2-year Treasury bonds reached 3.854% (-5.6 basis points).
The yen rose 0.55% against the US dollar, reaching its highest level since March 21, as investors flocked to safe haven assets.
The Chinese yuan rose 0.2% against the US dollar amid widespread weakness in the US currency and favorable Chinese data. China's manufacturing activity logged its fastest growth in a year in March as exports surged ahead of further tariff hikes, official survey data revealed on Monday. The National Bureau of Statistics said the manufacturing PMI rose to 50.5 in March, as expected, compared to 50.2 in the prior month. A score above 50.0 indicates expansion in the sector. The reading was seen at 50.4. The non-manufacturing PMI rose to 50.8 from 50.4 in the previous month. The expected reading was 50.5. The composite output index advanced to 51.4 from 51.1 in February.