Should We Keep an Eye on Price Movements This Weekend?
09.04.2021
- U.S. Producer Price Index
- Employment and Unemployment Rates
Yesterday, the three major U.S. stock indices all 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 has remained flat in the $59 range even after the announcement of increased production, while gold has risen since yesterday, recovering to the $1,750 range.
Although the foreign exchange market saw a gradual trend toward yen appreciation yesterday, cross-yen pairs rebounded slightly during today’s Asian trading session, and USD/JPY is currently trading around 109.3.Among the cross-yen pairs, the euro/yen has rebounded the most from its lows, rising to the 130.1 yen level after briefly falling to 129.5.
Today, at 15:00, German industrial production and the German trade balance will be released; at 15:45, French industrial production and the French manufacturing production index; and at 16:30, UKHalifax House Price Index at 15:30, Canada’s unemployment rate and net change in employment, and the U.S. Producer Price Index at 21:30, and remarks by Kaplan, President of the Federal Reserve Bank of Dallas, at 23:00.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 and weakness.
Author: Keisuke Sakurai
