Attention on the U.S. 3-year Treasury auction
08.06.2021
- Bid for 3-Year U.S. Treasury Bonds
- Germany: Industrial Production
Yesterday, the three major U.S. stock indices posted mixed results; while other indices fell, the Nasdaq closed at 13,881 points, up 0.49% from the previous day. This reflected growing expectations for a return to normal economic activity, driven by the steady progress of the vaccination rollout and a decline in new COVID-19 cases.
After a strong yen trend at the start of the week, the foreign exchange market has settled down somewhat, and cross-yen pairs are rising slightly again during today’s Asian trading session. However, GBP/JPY, currently trading around 154.9, is testing lower lows, and caution is warranted as a break below the 20-day moving average on the daily chart could signal the start of a downtrend.
Today, German industrial production is scheduled for 3:00 PM Asia time, followed by the German ZEW Economic Sentiment Survey and the final Q1 GDP figures for the Eurozone at 6:00 PM Europe time,the U.S. NFIB Small Business Optimism Index at 19:00, the U.S. and Canadian trade balances at 21:30, remarks by MPC member Holden at 22:00, the U.S. JOLTS report at 23:00, and a U.S. 3-year Treasury auction at 26:00. We will monitor trends in U.S. Treasury yields while assessing the relative strength of various currencies.
Author: Keisuke Sakurai
