| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:45 | France | Trade Balance, bln | September | -7.4 | -6.5 | -8.3 |
| 08:00 | Switzerland | SECO Consumer Climate | October | -33.7 | -33 | -37 |
During today's Asian trading, the US dollar rose slightly against major currencies, and is preparing to record another weekly increase, while investors continue to assess the impact of Donald Trump's victory on the US economy and 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 0.14% to 104.65. Since the beginning of the week, the index has added 0.3%. The focus also remained on the results of the Fed meeting, which yesterday cut interest rates by 0.25%, and demonstrated a patient and cautious approach to further easing monetary policy. In general, experts believe that the Fed will cut the rate again in December, unless the inflation and labor market data surprises materially to the upside. According to the CME FedWatch Tool, markets see a 74.7% probability of a 0.25% rate cut in December (compared to 82.7% a week earlier). However, the outlook for next year has become less certain, given the potential impact of trade and tax policies on the inflation forecast. Many experts expect that Trump's plans to increase import duties will lead to an increase in inflation, which will force the Fed to slow down the pace of rate cuts in 2025.
The Chinese yuan fell 0.4% against the US dollar after yesterday's 0.52% gain. Today, investors' attention will be drawn to the outcome of China's NPC Standing Committee meeting with anticipation of further economic support having mitigated some of the impact from a second Trump presidency on Chinese assets over the past few days. The president-elect has threatened to impose 60% tariffs on U.S. imports of Chinese goods.