Market participants may be on alert for remarks by a Fed governor during U.S. trading hours

Market participants may be on alert for remarks by a Fed governor during U.S. trading hours

03.08.2021

Yesterday, U.S. stock markets saw mixed performance, resulting in a trading session characterized by flat stock prices, lower interest rates, and a weaker U.S. dollar. The Russell 2000 fell slightly to 2,215. U.S. construction spending for June, released yesterday, came in 0.1% below market expectations; while the residential construction sector grew, the non-residential sector—including gas and oil drilling—declined.

In the foreign exchange market, European currencies and the U.S. dollar are locked in a tug-of-war, with the euro/dollar pair rising to 1.189 before falling back to 1.186. The pair is testing higher lows while forming lower highs, indicating that the market is searching for direction. The pound/dollar pair has fallen slightly, but the 200-day moving average is acting as support on the 4-hour chart, so the focus will likely be on whether the pair breaks below the support level of 1.386.Meanwhile, the AUD/USD pair has risen slightly and is currently trading around 0.736.

Today’s key economic indicators include Turkey’s Consumer Price Index and Producer Price Index at 4:00 PM, the Eurozone Producer Price Index at 6:00 PM, the U.S. Manufacturing Orders Index at 11:00 PM, and remarks by Federal Reserve Governor Bowman at 3:00 AM. With the August market having opened with yen buying, we will be closely monitoring which direction it takes ahead of this weekend’s U.S. jobs report.

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