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Should We Keep an Eye on the Manufacturing/Services PMI?

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Should We Keep an Eye on the Manufacturing/Services PMI?

23.04.2021

Today's Highlights
  1. The Canadian dollar is holding steady
  2. Europe and the U.S.: Manufacturing/Services PMI

Yesterday, the three major U.S. stock indices all fell; the Nasdaq, which saw the sharpest decline, closed at 13,818 points, down 0.94% from the previous day. Bonds were bought, and the yield on the 10-year U.S. Treasury note has recovered to the high 1.55% range.Crude oil settled at $61, while gold, after falling by about 100 pips during U.S. trading hours yesterday, has rebounded during today’s Asian trading session. Gold is currently trading around 1,785.

In the foreign exchange market, the yen is showing slight strength, and cross-yen pairs are trending lower. The AUD/JPY pair fell from 83.8 to 83.0 before rebounding during today’s Asian trading session. Among the cross-yen pairs, the CAD/JPY pair has seen the smallest decline. After falling slightly from 86.7 to 86.2, the CAD/JPY pair has rebounded; since it has not broken below its previous low, we should assess its strength relative to other currencies.

Today, the following data releases are scheduled: UK retail sales at 3:00 PM, French manufacturing and services PMIs at 4:15 PM, German manufacturing and services PMIs at 4:30 PM, Eurozone manufacturing and services PMIs at 5:00 PM, UK manufacturing and services PMIs at 5:30 PM, and US manufacturing and services PMIs at 10:45 PM.Since these are all preliminary figures, be on the lookout for sudden price fluctuations. Additionally, U.S. new home sales are scheduled for 11:00 PM. We will keep a close eye on today’s PMI data to see how market movements might shift over the weekend.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has focused primarily on foreign exchange trading and also has experience as an investment advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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Keep an eye on the direction of the weakening U.S. dollar

Past Market Reports

  1. 20.04.2026New

    With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

  2. 17.04.2026New

    Will the market wait and see how much further the U.S. dollar can rise against the yen?

  3. 16.04.2026New

    Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

  4. 15.04.2026New

    Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

  5. 14.04.2026New

    Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

  6. 13.04.2026

    Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

  7. 10.04.2026

    Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

  8. 09.04.2026

    Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

  9. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

  10. 07.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

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