Be on the lookout for remarks by key figures during the overlap with U.S. trading hours
29.06.2021
- Remarks by Bundesbank President Bahtman
- Remarks by ECB President Lagarde
Yesterday, U.S. stock prices rose, with the S&P 500 posting a modest gain and reaching a new all-time high. The U.S. Dallas Fed Manufacturing Index for June (month-over-month), released yesterday, came in at 31.1, falling short of expectations but remaining at a high level, which underscored the strength of the manufacturing sector. However, with COVID-19 cases surging again in Israel—which has the world’s highest vaccination rate—the market did not shift fully into risk-on mode.
In the foreign exchange market, the yen index stands at 90.4, its lowest level since March of this year, reflecting the yen’s weakness. However, cross-yen pairs are trending lower, with the euro/yen falling for the fifth consecutive day and currently trading around 131.7. The Canadian dollar/yen is also down, currently trading around 85.59.
Today’s economic indicators include the UK Nationwide House Price Index at 3:00 PM, the French Consumer Confidence Index at 3:45 PM, the Turkish Economic Confidence Index at 4:00 PM, UK Mortgage Approvals at 5:30 PM, the German Consumer Price Index (flash estimate) at 9:00 PM,22:00: U.S. S&P/Case-Shiller Home Price Index and U.S. Home Price Index, remarks by U.S. Richmond Fed President Barkin; 22:40: remarks by ECB President Lagarde; 23:00: U.S. Consumer Confidence Index; and 25:00: remarks by German Bundesbank President Weidmann.While remaining vigilant about end-of-month price movements, we will be watching for signs of the U.S. dollar’s direction.
Author: Keisuke Sakurai
