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Should we keep an eye on the strength of the Australian dollar?

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Should we keep an eye on the strength of the Australian dollar?

01.06.2021

Today's Highlights
  1. MIS Manufacturing Index
  2. Remarks by U.S. Federal Reserve Vice Chair Quarles

Although U.S. markets were closed yesterday, European markets saw stock prices fall, with the Euro Stoxx 50 closing at 4,039, down 0.76% from the previous day. Additionally, both WTI and Brent crude oil prices have surpassed $70, indicating a global trend of rising oil prices. As vaccination efforts progress and restrictions on business hours for restaurants and other establishments are being eased, the effects of lifting pandemic-related restrictions appear to be gradually emerging.

The foreign exchange market is shifting back from a yen-strengthening trend to a yen-weakening trend, with the AUD/JPY pair showing particularly strong gains among cross-yen pairs. The AUD/JPY pair, ahead of today’s RBA policy rate announcement, has risen from 84.6 to 84.9. Today’s policy rate announcement could trigger further gains. Meanwhile, the AUD/USD pair is showing even stronger momentum and is currently trading around 0.776.

Today’s schedule includes UK Nationwide house prices at 3:00 PM, Swiss retail sales at 3:30 PM, Swiss Q1 GDP at 4:00 PM, German unemployment rate at 4:55 PM, UK Manufacturing PMI (final) at 5:30 PM, Eurozone CPI (flash estimate) at 6:00 PM,at 9:30 PM: Canadian GDP; at 11:00 PM: U.S. ISM Manufacturing PMI and remarks by U.S. Federal Reserve Vice Chair Quarles; at 12:00 AM: remarks by Bank of England Governor Bailey; and at 3:00 AM: remarks by U.S. Federal Reserve Governor Brainard. I intend to watch carefully to see if today’s economic releases will shift currency strength.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has focused primarily on foreign exchange trading and also has experience as an investment advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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Attention on Canada's First-Quarter Current Account Balance

Next Article

Market participants may be on alert for comments from key figures in the U.S.

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

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