Should We Be Cautious About 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 surge. The Dollar Index also rose to 93.2, indicating an overall strengthening of the dollar.
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; and at 18:00, the Eurozone’sConsumer Price Index (flash estimate) are scheduled for release. As we move into U.S. trading hours, the U.S. ADP National Employment Report is scheduled for 21:15, Canada’s GDP for 21:30, U.S. Pending Home Sales for 23:00, and U.S. Weekly Crude Oil Inventories for 23:30.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.
