Market participants may be on alert for economic data releases and comments from key officials in the U.S.
11.08.2021
- U.S. Weekly Crude Oil Inventories
- U.S. 10-Year Treasury Auction
Yesterday, U.S. stock markets saw mixed trading, with stocks trading sideways 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 $68.00. The VIX index remained unchanged, hovering around 16.7. The yield on the 10-year U.S. Treasury note jumped above 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. Consequently, 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 AUD/USD trading around 0.734, the upside is being capped along the 20-period moving average on the hourly chart, so we want to carefully monitor the higher time frames to determine the direction.
Today, the German Consumer Price Index will be released at 3:00 PM during Asian trading hours, the U.S. MBA Mortgage Applications Index at 8:00 PM during European trading hours, and the U.S. Consumer Price Index (Core) at 9:30 PM during U.S. trading hours.at 11:30 PM, U.S. weekly crude oil inventories and remarks by Bostic, President of the Atlanta Fed; at 1:00 AM, remarks by George, President of the Kansas City Fed; at 2:00 AM, a U.S. 10-year Treasury auction; and at 3:00 AM, the U.S. budget balance. We will be closely monitoring how the market, currently in the midst of the summer holiday season, reacts to today’s economic releases.
Author: Keisuke Sakurai
