Market participants may be on alert following the release of the U.S. ISM Non-Manufacturing PMI

Market participants may be on alert following the release of the U.S. ISM Non-Manufacturing PMI

06.07.2021

Yesterday, European markets saw rising stock prices, a weaker euro, and flat commodity prices. With U.S. markets closed, trading was characterized by low volatility. The VIX (fear index) remains at a low level of 15.0. Gold is rising toward its 20-day moving average, trading around $1,798.

In the foreign exchange market, cross-yen pairs are rebounding, with the Australian dollar/yen—an Oceania currency—showing particularly strong gains. On the daily chart, the AUD/JPY pair has been forming higher lows, and during today’s Asian trading session, it has risen to around 83.8, just above the 20-day moving average. Today’s RBA policy rate announcement could provide further clarity on the market’s direction. With crude oil prices surging, this is a time to keep a close eye on the performance of commodity-linked currencies.

Today, at 3:00 PM Asia time, German manufacturing orders and remarks by RBA Governor Lowe of Australia are scheduled; at 5:30 PM Europe time, the UK construction PMI; at 6:00 PM, the German ZEW Economic Sentiment Survey, the Eurozone ZEW Economic Sentiment Survey, and Eurozone retail sales; at 10:45 PM US time, the US services PMI (final reading);and at 11:00 PM, the U.S. ISM Non-Manufacturing Index. The market consensus for the U.S. ISM is 63.5. We should pay close attention to the release of these U.S. indicators and monitor the direction of the U.S. dollar.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 07.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran