| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | Gfk Consumer Confidence Survey | May | -24.3 | -26 | -20.6 |
During today's Asian trading, the U.S. dollar rose moderately against major currencies, while market participants expected more clarity regarding the development of the Sino-American trade war.
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 0.25% to 99.18. Yesterday, the index fell by 0.46%. Treasury Secretary Scott Bessent said the next move was up to China, adding to the confusion already caused by contradictory statements from both sides. President Trump claimed progress had been made, but China denied his comments. This uncertainty drove investors toward safe-haven currencies like the yen and Swiss franc. On Tuesday, the dollar managed minor gains, rising 0.45% against the franc and 0.35% against the yen, though overall trading was thin due to a holiday in Japan. Market sentiment improved slightly after reports that the U.S. may ease auto tariffs. Still, analysts remain cautious.
The euro fell 0.3% against the US dollar, but was set for its biggest monthly gain in over two years. Sterling hovered near a three-year high at $1.3410.
In Canada, the loonie weakened after Prime Minister Mark Carney’s Liberals won re-election but failed to secure a majority. Analysts warned that minority rule could hinder tariff negotiations.
Looking ahead, investors await key U.S. data, including jobs numbers and inflation indicators, for signs of the trade war's impact on the economy. Experts said weak data will likely hurt the dollar further, as right now, it's behaving more like a risk asset than a safe haven.