All eyes on the UK employment figures
18.05.2021
- Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
- UK Employment Statistics
Yesterday, stock prices fell in both European and U.S. markets, with the Dow Jones Industrial Average closing at $34,327, down 0.16% from the previous day. The New York Fed’s Manufacturing Index (May), released yesterday, came in at 24.3, exceeding expectations, but its impact on the market was limited.
In the foreign exchange market, Oceania currencies—which had been weakening—are now rebounding, and combined with the yen’s weakening trend, the AUD/JPY pair has risen from 84.45 to 85.05.The AUD/USD pair is also rising, climbing from 0.773 to 0.779, making the Oceania currencies the strongest performers in today’s Asian trading session. However, the GBP/AUD pair is trending lower and has not managed to outperform the strength of the pound.
Today, at 3:00 PM, the UK will release its unemployment rate and jobless claims; at 6:00 PM, the Eurozone will release its first-quarter GDP (final reading) and trade balance. Once U.S. trading hours begin, at 9:30 PM, the U.S. will release housing starts and building permits, and at 11:00 PM, the UK will releaseremarks by BOE Governor Bailey and BOE Deputy Governor Broadbent, at 12:00 AM remarks by SNB Governor Jordan, and at 12:05 AM remarks by Dallas Fed President Kaplan. We will be closely monitoring how today’s economic data releases affect currency strength.
Author: Keisuke Sakurai
