All eyes are on remarks by Fed Chair Powell

All eyes are on remarks by Fed Chair Powell

03.05.2021

Last weekend, the U.S. stock market fell, leading to a scenario of lower stock prices, a stronger U.S. dollar, and lower interest rates. Although gold typically moves inversely to the U.S. dollar, it has been rising alongside the dollar’s appreciation and continues to climb, currently hovering around $1,773. The yield on the 10-year U.S. Treasury note has fallen to 1.62%.

In the foreign exchange market, the Dollar Index—which measures the relative strength of the U.S. dollar—has surged to 91.3. While cross-yen pairs are generally declining, the USD/JPY pair is trending higher. The USD/JPY pair has firmly broken above the 109-yen level and is currently trading around 109.45.

Today, Turkey’s Manufacturing PMI, Core Consumer Price Index, and Producer Price Index are scheduled for release at 4:00 PM, followed by Switzerland’s Manufacturing PMI at 4:30 PM, France’s Manufacturing PMI at 4:50 PM, Germany’s Manufacturing PMI at 4:55 PM, and the Eurozone Manufacturing PMI at 5:00 PM. However, since these are all final readings, their impact is likely to be limited.Additionally, as U.S. trading hours begin, the U.S. Manufacturing PMI is scheduled for 22:45, the U.S. ISM Manufacturing Index and Construction Spending for 23:00, remarks by U.S. Federal Reserve Bank of New York President Williams for 27:10, and remarks by U.S. Federal Reserve Chair Powell for 27:20. We will pay close attention to today’s remarks by Federal Reserve Chair Powell and monitor price movements closely.

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