Investors may be wary of sharp price movements caused by end-of-month rebalancing
30.06.2021
- Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
- U.S. – Barkin: Remarks by the President of the Richmond Federal Reserve Bank
Yesterday, the three major U.S. stock indices all rose slightly, with the Dow Jones Industrial Average closing at $34,292, up 0.03% from the previous day. Meanwhile, the Nasdaq and S&P 500 continued to hit new record highs; the Nasdaq, driven by tech stocks, closed at 14,528 points, up 0.19% from the previous day.
In the foreign exchange market, the U.S. dollar is gradually gaining strength, and the USD/JPY pair is holding steady in the 110.49 range while other yen crosses are falling. Meanwhile, the GBP/JPY pair is falling more sharply; it is currently trading around 153.00, having briefly dipped below 153 yen to reach 152.6.
Today’s economic indicators include the UK’s Q1 GDP (final reading) and Q1 current account balance at 3:00 PM, France’s CPI (flash estimate) and PPI at 3:45 PM, Turkey’s trade balance at 4:00 PM,at 16:55: Germany’s unemployment rate; at 18:00: the Eurozone’s Consumer Price Index (flash estimate); at 20:00: remarks by UK MPC member Holden; at 21:00: remarks by US Atlanta Fed President Bostic; at 21:15: US ADP National Employment Report; at 21:30: Canada’s GDP;22:45 US Chicago PMI, 23:00 US Pending Home Sales, 23:30 US Weekly Crude Oil Inventories, and 26:00 US remarks by Barkin, President of the Richmond Fed. As this is the last day of June, we will monitor price movements while remaining vigilant for sharp price fluctuations caused by portfolio rebalancing.
Author: Keisuke Sakurai
