Market participants may be wary of comments on tapering at the Jackson Hole Symposium

Market participants may be wary of comments on tapering at the Jackson Hole Symposium

27.08.2021

Yesterday, the three major U.S. stock indices all fell, resulting in a market environment characterized by falling stock prices, flat interest rates, and lower oil prices. Stock prices have been volatile due to concerns over a resurgence of infections caused by the Delta variant of the novel coronavirus, as well as the impact of the suicide bombing near the airport in Kabul, Afghanistan. The fear index (VIX) rose by about 12% to 18.8.

The foreign exchange market is showing a slight trend toward yen appreciation, with cross-yen pairs having fallen modestly since yesterday’s European session. In particular, the CAD/JPY pair—which had been gaining momentum—has fallen from 87.49 to 86.54. Technically, on the daily chart, the pair appears to be capped by the 20-day moving average, and since the highs are declining, we should remain vigilant for a potential new low.

Today, the German Import Price Index is scheduled for 3:00 PM, the French Consumer Confidence Index for 3:45 PM, the Turkish Economic Confidence Index for 4:00 PM, the Canadian Industrial Product Prices and Raw Material Prices Index, U.S. Personal Income, the Core PCE Deflator, and U.S. Wholesale Inventories for 9:30 PM,and at 11:00 PM, the U.S. University of Michigan Consumer Sentiment Index and remarks by Fed Chair Powell at the Jackson Hole Symposium are scheduled. In addition to the growing concerns over geopolitical risks, we will be closely monitoring how the market reacts to Fed Chair Powell’s remarks today.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 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?

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed