Should We Keep an Eye on the Direction of the Weakening U.S. Dollar?
26.04.2021
- The euro is holding steady
- U.S. 2- and 5-Year Treasury Bond Auctions
Last weekend, the three major stock indices on the U.S. stock market all rose, with the S&P 500 closing at 4,180 points, up 1.09% from the previous day.Long-term bonds traded sideways, with the yield on the 10-year U.S. Treasury note at 1.57%. Crude oil rose slightly to $61.9, while gold traded sideways at $1,780.
In the foreign exchange market, the U.S. dollar is trading weakly against the yen and European currencies. The GBP/USD pair rose during today’s Asian trading session and is currently trading around 1.390. The AUD/USD pair is also up, rising from 0.773 to 0.777.During today’s Asian trading session, the Australian dollar has been the strongest currency. The USD/JPY pair is falling gradually and is testing support around 107.7.
Today, the German IFO Business Climate Index is scheduled for 17:00, U.S. durable goods orders for 21:30, the Dallas Fed Manufacturing Activity Index for 23:30, a U.S. 2-year Treasury auction for 24:30, and a U.S. 5-year Treasury auction for 26:00.This week, the Bank of Japan’s monetary policy decision is scheduled for Tuesday, the 27th; the U.S. FOMC interest rate announcement for Wednesday, the 28th; and the Eurozone employment report for Friday, the 30th. We will be watching closely to see how the U.S. dollar and European currencies fare.
