Keep an eye on price movements over the weekend
09.04.2021
- U.S. Producer Price Index
- Employment and Unemployment Rates
Yesterday, all three major U.S. stock indices rose. The Dow Jones Industrial Average closed at $33,503, up 0.17% from the previous day, while the S&P 500 hit a new all-time high, closing at 4,097 points. Crude oil remained flat in the $59 range even after the announcement of increased production, while gold rose from yesterday’s levels, recovering to the $1,750 range.
Although the foreign exchange market saw a gradual strengthening of the yen yesterday, cross-yen pairs rebounded slightly during today’s Asian trading session, with USD/JPY currently trading around 109.3. Among the cross-yen pairs, EUR/JPY has rebounded the most from its lows, rising to the 130.1 level after briefly falling to 129.5.
Today, at 3:00 PM, Germany’s, at 15:45 French industrial production and the French manufacturing production index, at 16:30 UK Halifax house prices, at 21:30 Canadian unemployment rate and net change in employment, and the US Producer Price Index, and at 23:00 US wholesale inventories (final reading) and remarks by Kaplan, President of the Dallas Fed.We will carefully assess whether the downward trend in cross-yen pairs will pause and shift back to an upward trend, while closely monitoring currency strength.
Author: Keisuke Sakurai
