All eyes on the U.S. employment report

All eyes on the U.S. employment report

07.05.2021

Yesterday, U.S. stock markets extended their gains, albeit modestly, with the S&P 500 closing at 4,201 points, up 0.82% from the previous day. Amid a trend of rising stock prices, a weaker dollar, and falling interest rates, crude oil prices edged lower, while gold rose by about 350 pips to the $1,822 level.

In the foreign exchange market, the yen is trading slightly weaker, and cross-yen pairs are trending higher. Following yesterday’s announcement of the policy rate—which was kept at 0.1%—GBP/JPY fell briefly immediately after the release but is attempting to rebound during today’s Asian trading session. GBP/JPY is currently trading around 151.7.

Today, at 3:00 PM CET, Germany’s industrial production and trade balance will be released; at 3:45 PM CET, France’s industrial production and manufacturing production index will be released; and at 5:30 PM CET, the UK’sConstruction PMI, at 19:00 a statement by ECB President Lagarde, at 20:15 a statement by BOE Deputy Governor Broadbent, and during U.S. trading hours at 21:30 U.S. and Canadian employment reports, at 22:00 a statement by Richmond Fed President Barkin, and at 23:00 the Canadian Ivey PMI are scheduled.Today’s U.S. employment report is expected to show nonfarm payrolls of 1 million, with strong numbers anticipated. We will continue to monitor the situation closely to see how the U.S. dollar reacts to the results.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 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?

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed