| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:30 | Switzerland | Producer & Import Prices, m/m | September | 0.2% | 0.1% | -0.1% |
| 06:30 | Switzerland | Producer & Import Prices, y/y | September | -1.2% | | -1.3% |
During today's Asian trading, the US dollar rose slightly against major currencies, remaining near its highest level since August 15, as recent economic data reduced the likelihood of another aggressive easing of the Fed's monetary policy.
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 0.09% to 102.99. Last week, the index rose by 0.36%, while since the beginning of the month, the increase was 2.2%. Recent inflation data and the initial jobless claims report have reinforced expectations that the Fed will continue to gradually lower interest rates. According to the CME FedWatch Tool, markets see a 86.9% probability of a 0.25% rate cut at the November meeting (compared to 84.4% a week earlier) and a 82.1% probability of a 0.25% rate cut in December (compared to 78.3% a week earlier). This week, investors' attention will be drawn to retail sales and jobless claims data. Meanwhile, Fed Governor Christopher, who is one of the politicians who supports a more significant interest rate cut, will give a speech today.
The Chinese yuan fell 0.2% against the US dollar, as market participants were somewhat disappointed by the Chinese government's statements on stimulating the economy. The Finance Ministry said on Saturday it would "significantly increase" the issuance of government debt to offer subsidies to low-income people, support the real estate market and replenish the capital of state-owned banks. Without going into details about the upcoming fiscal stimulus, Finance Minister Lan Foan said there would be more "counter-cyclical measures" this year.