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Should we keep an eye on the strength of European currencies?

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Should we keep an eye on the strength of European currencies?

07.06.2021

Today's Highlights
  1. Rice · Outstanding Consumer Credit
  2. Housing Prices in Halifax, UK

Last weekend, the three major U.S. stock indices all rose, leading to a market environment characterized by rising stock prices, higher oil prices, and lower interest rates. The Dow Jones Industrial Average closed at $34,756, just $21 shy of a new all-time high. U.S. long-term bond prices plummeted, with the yield on the 5-year Treasury note falling by more than 5 percentage points. The current yield on the 5-year Treasury note stands at around 0.79%.

In the foreign exchange market, the Australian dollar has been gaining momentum again since last weekend. The AUD/USD pair has fully recovered the 100-pip decline from the day before yesterday and is currently trading around 0.773. The market is also taking a bullish stance against the pound, which is showing strength, and the GBP/AUD pair has fallen from 1.845 to 1.826.The EUR/AUD pair is also trending downward, having dropped by about 150 pips, and continues to follow a downward trend.

Today, German manufacturing orders are scheduled for 3:00 PM, the Swiss Consumer Price Index for 3:30 PM, the UK Halifax House Price Index for 4:30 PM, and U.S. consumer credit balances for 8:00 PM.While there are no other major economic indicators scheduled for today, with the Canadian central bank’s interest rate decision on Wednesday, the 9th, and the ECB’s interest rate decision on Thursday, the 10th, coming up this week, we will be closely monitoring how European currencies—which have been showing strength against the U.S. dollar—react to these announcements.

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.

Previous article

Market participants may be on alert for economic indicators scheduled for release during U.S. trading hours

Next Article

Attention may turn to the U.S. 3-year Treasury auction

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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