Attention on the U.S. 30-year Treasury auction

Attention on the U.S. 30-year Treasury auction

13.04.2021

Yesterday, European markets saw little movement and mixed trading, while U.S. markets edged lower ahead of earnings reports from major companies. The Dow Jones Industrial Average, which had recently hit a new high, closed at $33,745, down 0.16% from the previous day. Auctions for U.S. 3-year and 10-year Treasury bonds held yesterday yielded weak results, and the 10-year yield rose slightly following the auction results.

In the foreign exchange market, cross-yen pairs—which had been undergoing a corrective decline—have turned upward during today’s Asian trading session, with the USD/JPY pair showing a particularly notable rise. The USD/JPY has climbed from 109.3 to 109.76, and since it has broken above the previous low on the 4-hour chart from a technical perspective, it will be worth watching to see if this upward trend continues.

Today, UK GDP, industrial production, manufacturing output, and the goods trade balance are scheduled for release at 15:00 CET, followed by the German ZEW Economic Sentiment Survey at 18:00 CET. Once U.S. trading hours begin, the U.S. Consumer Price Index is set for 21:30, with remarks by Harker, President of the Federal Reserve Bank of Philadelphia, and Daily, President of the Federal Reserve Bank of Richmond, scheduled for 25:00.San Francisco Fed President, and U.S. remarks by Barkin, President of the Richmond Fed, are scheduled, followed by a U.S. 30-year Treasury auction at 26:00. Additionally, remarks by Bostic, President of the Atlanta Fed, are scheduled for 29:00. We will carefully monitor the direction of the U.S. dollar to see if it will resume an upward trend alongside stock prices.