Investors Should Keep an Eye on Key Economic Indicators in U.S. Trading Hours
01.07.2021
- U.S. Initial Unemployment Insurance Claims
- U.S. ISM Manufacturing PMI
Yesterday, European markets fell across the board, while U.S. markets closed mixed, resulting in a trading session characterized by flat stock prices, flat interest rates, and a stronger U.S. dollar. WTI crude oil traded sideways at around $73.8, while gold rebounded, recovering to the $1,774 range.
In the foreign exchange market, the U.S. dollar continued to rise as the U.S. ADP National Employment Report released yesterday came in stronger than expected, despite resistance at higher levels for the 10-year U.S. Treasury yield. The GBP/USD pair fell from 1.387 to 1.379.The AUD/USD pair also fell, dropping from yesterday’s high of 0.752 to 0.748.
Today’s economic indicators include German retail sales at 15:00 during Asian trading hours, the Swiss Consumer Price Index at 15:30, remarks by ECB President Lagarde at 16:00 during European trading hours, remarks by BOE Governor Bailey at 17:00, and the UKManufacturing PMI (final reading), at 20:30: U.S. Challenger Job Cuts, at 21:30 U.S. time: U.S. Initial Jobless Claims, at 22:45: U.S. Manufacturing PMI (final reading),at 23:00, the U.S. ISM Manufacturing Index and U.S. Construction Spending; at 23:30, U.S. Weekly Natural Gas Inventories; and at 27:00, remarks by U.S. Atlanta Fed President Bostic are scheduled.We will monitor price movements while keeping an eye on the correlation between the U.S. dollar—which is beginning to show a clear direction—and European currencies.
Author: Keisuke Sakurai
