Market participants may be on alert for economic data releases scheduled during U.S. trading hours
04.06.2021
- Remarks by U.S. Federal Reserve Chair Powell
- U.S. Employment Report
Yesterday, the three major U.S. stock indices all fell, with the S&P 500 closing at 4,192, down 0.36% from the previous day.WTI crude oil fell slightly from yesterday’s high and is currently trading around $68.80. U.S. long-term bonds rose again and are now in the 1.623% range. Gold fell by about 400 pips yesterday and is currently in the $1,866 range.
In the foreign exchange market, the USD/JPY pair has risen, touching the key level of 110.00. It is currently trading around 110.25. Today’s U.S. employment report is expected to show a strong figure of 674,000 new nonfarm payroll jobs, and depending on the results, the pair could rise further; therefore, it is advisable to avoid excessive contrarian trading.
Today, at 4:00 p.m. CET, we have remarks from New Zealand’s RBNZ Governor O’Rourke and Switzerland’s SNB Governor Jordan; at 5:30 p.m. CET, the UK Construction PMI; at 6:00 p.m. CET, Eurozone retail sales;and at 8:00 PM, remarks by ECB President Lagarde and Fed Chair Powell are scheduled. Once U.S. trading hours begin, the Canadian Employment Report and U.S. Employment Report are scheduled for 9:30 PM, followed by the Canadian Ivey PMI and U.S. Factory Orders at 11:00 PM, and remarks by U.S. President Biden at 11:15 PM.We will monitor price movements while paying close attention to today’s economic data releases.
Author: Keisuke Sakurai
