Market participants may be on alert for economic indicators scheduled for release during U.S. trading hours
15.06.2021
- U.S. Retail Sales
- UK Employment Statistics
Yesterday, stock prices in both European and U.S. markets were mixed, resulting in a market characterized by flat stock prices, flat commodity prices, and rising interest rates. Gold, which had plummeted alongside the rise in the U.S. dollar, recovered to half of its losses and is currently trading around $1,862. The fear index (VIX) rose slightly to 16.39.
In the foreign exchange market, the pound is regaining momentum, and the GBP/JPY pair is currently attempting to rise, hovering around 155.37. From a technical perspective, the pair has already broken above the downtrend line on the 4-hour chart, and depending on the results of today’s UK employment report, further gains are possible. However, the UK has just decided to extend the lockdown—which was scheduled to end on the 21st of this month—by four weeks, and the situation regarding the containment of the novel coronavirus remains far from certain.
Today, at 3:00 PM, UK employment figures and German CPI will be released; at 3:45 PM, the final French CPI will be released; and at 6:00 PM, the Eurozonetrade balance, at 21:30 (U.S. time) U.S. retail sales, the U.S. NY Fed Manufacturing Index, and the U.S. Producer Price Index, at 22:00 Canadian existing home sales, at 22:15 U.S. industrial production and the U.S. capacity utilization rate, and at 23:00 U.S. business inventories and the U.S. NAHB Housing Market Index.I will be closely monitoring whether today’s economic releases will cause any shifts in the market trend.
Author: Keisuke Sakurai
