Attention on U.S. Initial Jobless Claims

Attention on U.S. Initial Jobless Claims

01.04.2021

Yesterday, the S&P 500 and the Nasdaq rose on U.S. markets, with the Nasdaq closing at 13,246, up 201 points from the previous day. The release of the Chicago Purchasing Managers' Index, which came in at 66.3—exceeding the forecast of 61.0—also appeared to be well received.

In the foreign exchange market, the Dollar Index, which had been rising, is now consolidating around 93.2, while the USD/JPY pair touched 110.96 before entering a gradual downtrend. Since cross-yen pairs are generally undergoing a corrective decline, traders should wait for the right timing before entering new long positions.

Today, at 3:00 PM, German retail sales and Swiss CPI and retail sales; at 4:00 PM, Turkish manufacturing PMI; at 4:30 PM, Swiss manufacturing PMI; at 4:50 PM, French manufacturing PMI (final); at 5:30 PM, UK manufacturing PMI (final);U.S. initial jobless claims at 9:30 PM, the U.S. ISM Manufacturing PMI at 11:00 PM, and remarks by Harker, President of the Federal Reserve Bank of Philadelphia, at 2:00 AM. With tomorrow’s U.S. jobs report on the horizon, we will be closely watching to see how long the U.S. dollar’s momentum will last.