Market Participants May Be on Alert for Economic Indicators and Key Officials' Remarks in U.S. Trading Hours
11.08.2021
- U.S. Weekly Crude Oil Inventories
- U.S. 10-Year Treasury Auction
Yesterday, U.S. stock markets saw mixed trading, with stock prices remaining flat amid rising interest rates and higher crude oil prices. WTI crude oil, which had been slow to recover from its recent decline, rebounded by about 1.7% and is currently trading around $68.0.The fear index (VIX) remained unchanged, hovering around 16.7. The yield on the 10-year U.S. Treasury note jumped by more than 3% and is currently around 1.35%.
In the foreign exchange market, the Dollar Index has risen to 93.07, reaching last month’s high. As a result, the USD/JPY pair has risen. It has consolidated around 110.00 and is currently attempting to move higher near 110.65.However, the AUD/USD pair rose yesterday, indicating resistance among Oceania currencies against the dollar. With the AUD/USD trading around 0.734 and facing resistance along the 20-period moving average on the hourly chart, we should carefully monitor higher time frames to determine the direction of the trend.
Today, the German Consumer Price Index will be released at 15:00 during Asian trading hours, the U.S. MBA Mortgage Applications Index at 20:00 during European trading hours, the U.S. Core Consumer Price Index at 21:30 during U.S. trading hours,at 23:30, the U.S. weekly crude oil inventories and remarks by Bostic, President of the Atlanta Fed; at 25:00, remarks by George,Kansas City Fed President George’s remarks at 26:00, the U.S. 10-year Treasury auction at 27:00, and the U.S. budget balance at 27:00. We will be watching closely to see how the markets, currently in the midst of the summer holiday season, react to today’s economic releases.
