| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | CPI, m/m | March | 0.4% | 0.4% | 0.4% |
| 06:00 | United Kingdom | Manufacturing Production (MoM) | February | -0.2% | 0.1% | 1.2% |
| 06:00 | Germany | CPI, y/y | March | 2.5% | 2.2% | 2.2% |
| 06:00 | United Kingdom | Industrial Production (MoM) | February | -0.3% | 0% | 1.1% |
| 06:00 | United Kingdom | GDP m/m | February | 0.3% | 0.1% | 0.1% |
| 06:45 | France | CPI, m/m | March | 0.9% | 0.2% | 0.2% |
During today's Asian trading, the US dollar rose against major currencies, continuing yesterday's increase, which was facilitated by an increase in US Treasury bond yields.
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 0.37% to 105.67 (the highest value since November 14). The dollar is supported by a review of the prospects for easing the Fed's monetary policy. Experts said that the weaker-than-expected data on US producer prices partially eased market concerns about persistent inflation. The data showed that the producer price index rose 0.2% month-on-month in March, compared with the 0.3% increase expected by economists. On an annualized basis, it grew by 2.1% compared to the projected increase of 2.2%. The fact that the producer price index rose less than expected brought some relief to markets after the publication of the March consumer inflation report, which reflected stronger than predicted price pressures. According to the CME FedWatch Tool, markets see a 24.6% probability of a 25 basis point rate cut at the Fed meeting in June, and a 49.5% probability of a rate cut in July (compared to 72.6% a week earlier). In addition, the markets now forecast a rate cut of only 40 basis points in 2024, which implies approximately two rate cuts of 0.25%, compared with three cuts predicted just a month ago.
The yen consolidated against the US dollar, remaining near a new 34-year low, reached yesterday. Since the beginning of the week, the yen has declined by more than 1%. While the 152 level (for the USD/JPY) initially proved to be a strong resistance due to fears of intervention by the Japanese authorities, US inflation data provoked a rally in the US dollar, which eventually overcame the key level. Japanese Finance Minister Shunichi Suzuki said on Friday that the authorities are analyzing not only the recent levels of the yen, but also the factors determining the movement of the currency.