Should Investors Be Wary of Position Adjustments at Month-End and Year-End?
31.03.2021
- U.S. ADP Employment Report
- Canada · GDP
Yesterday, U.S. markets saw falling stock prices, rising interest rates, and a stronger U.S. dollar. The Dow Jones Industrial Average, which had recently hit a record high, closed at $33,066, down $104 from the previous day. The yield on the 10-year U.S. Treasury note rose as high as 1.77% at one point and is currently hovering around 1.73%.
In the foreign exchange market, the USD/JPY pair rose to 110.96, triggering stop-loss orders and causing a sharp spike. The Dollar Index also rose to 93.2, indicating an overall trend of dollar strength.
Today, at 15:00 European time, the UK’s fourth-quarter GDP (final reading) and Nationwide house prices will be released; at 15:45, France’sConsumer Price Index (flash estimate) and Producer Price Index are scheduled to be released; at 16:00, Turkey’s trade balance and economic confidence; at 16:55, Germany’s unemployment rate; at 18:00, the Eurozone’sConsumer Price Index (flash estimate) are scheduled for release. Once U.S. trading hours begin, the U.S. ADP National Employment Report is scheduled for 9:15 p.m., Canada’s GDP for 9:30 p.m., U.S. pending home sales for 11:00 p.m., and U.S. weekly crude oil inventories for 11:30 p.m.Additionally, although the exact time is yet to be determined, U.S. President Biden is scheduled to announce plans for economic measures, including infrastructure rebuilding. While keeping an eye on the overlapping economic data releases and remarks from key figures, we will carefully monitor price movements on the final day of March.
Author: Keisuke Sakurai
