Attention on the U.S. 7-year Treasury auction
27.04.2021
- U.S. 7-Year Treasury Auction
- Weakening yen
Yesterday, the Nasdaq and S&P 500 hit all-time highs on the stock market, with the S&P 500 closing at 4,189 points, up 0.22% from the previous day.Although the U.S. durable goods orders data released yesterday came in at 0.5% versus a forecast of 2.5%, the impact on the market was limited. The fear index (VIX) has fluctuated around 18 over the past week and currently stands at around 17.6.
In the foreign exchange market, Oceania currencies are holding firm, tracking the strong performance of the U.S. stock market. From a technical perspective, the 20-week moving average (MA) is acting as resistance for the EUR/AUD pair, while the 20-week MA is serving as support for the AUD/USD pair. The AUD/JPY pair is attempting to break above the 83.0–84.5 range, and traders should be on guard for a potential rise to the next resistance level at 85.5.
Today’s schedule includes a press conference by Bank of Japan Governor Kuroda at 3:30 p.m., the U.S. S&P/Case-Shiller Home Price Index at 10:00 p.m., the U.S. Consumer Confidence Index and remarks by the President of the Richmond Fed at 11:00 p.m., a U.S. 7-year Treasury auction at 2:00 a.m., and remarks by Bank of Canada Governor McClem at 5:00 a.m.We will be closely monitoring how the yen’s weakening trend and the dollar’s strengthening trend evolve ahead of tomorrow’s U.S. FOMC meeting.
Author: Keisuke Sakurai
