Attention May Turn to the U.S. 7-Year Treasury Auction
27.04.2021
- U.S. 7-Year Treasury Auction
- Weakening yen trend
Yesterday, the Nasdaq and the 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 U.S. durable goods orders released yesterday came in at 0.5%, compared to 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 is currently hovering around 17.6.
In the foreign exchange market, Oceania currencies are holding up well, 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 as a precaution, traders should be on the lookout 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 15:30, the U.S. S&P/Case-Shiller Home Price Index at 22:00, the U.S. Consumer Confidence Index and remarks by the President of the Richmond Fed at 23:00, a U.S. 7-year Treasury auction at 26:00, andand at 29:00, remarks by Bank of Canada Governor McClem. 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.
