Should We Keep an Eye on Currency Movements in Oceania?
25.05.2021
- U.S. Evans: Remarks by the President of the Chicago Fed
- U.S. 2-Year Treasury Auction
Yesterday, the three major U.S. stock indices all rose, with the S&P 500 closing at 4,197 points, up 0.99% from the previous day.As stock prices rose, the fear index (VIX) fell to 18.4. Although the U.S. State Department advised against travel to Japan, the impact on Japanese stocks was limited, and the Nikkei 225 continued to rise today.
The foreign exchange market has seen a downward trend in U.S. long-term bonds and the U.S. dollar since yesterday’s U.S. trading session, but this is not due to an economic slowdown. Since the USD/JPY pair also has support around 108.3 on the daily chart, traders should be cautious about excessive selling.Furthermore, Oceania currencies have recently been unable to break out of their range, and the AUD/USD pair is currently consolidating around 0.775.
Today’s schedule includes the German IFO Business Climate Index at 15:00, the UK CBI Retail Trade Survey at 19:00, and remarks by U.S. Federal Reserve Bank of Chicago President Evans at 20:40:remarks by the President of the Chicago Fed, at 21:00 remarks by U.S. Richmond Fed President Barkin, at 22:00 the U.S. S&P Case-Shiller Home Price Index,at 11:00 PM, the U.S. Consumer Confidence Index, U.S. New Home Sales, the U.S. Richmond Fed Manufacturing Index, and remarks by U.S. Federal Reserve Vice Chair Quarles; and at 2:00 AM, the U.S. 2-Year Treasury Auction are scheduled to be announced.We will carefully monitor whether any movement emerges in the Oceania currencies, which have been trading within a range.
Author: Keisuke Sakurai
