Caution over further downside potential for Oceania currencies
15.09.2021
- UK Consumer Price Index
- U.S. New York Fed Manufacturing Index
Yesterday, stock prices fell in both European and U.S. markets, with France’s CAC 40 closing at 6,652, down 0.36% from the previous day. U.S. bonds continued to rise, with the yield on the 10-year Treasury note falling below the 1.3% mark to 1.28%. Gold recovered to the key $1,800 level and is currently trading around $1,803.
The foreign exchange market is showing a trend toward a stronger yen, with the Australian dollar emerging as the weakest currency as of yesterday. The AUD/JPY pair continued its downward trend from early this month, falling from 81.10 to 80.02. However, from a technical perspective, the daily chart shows rising highs, so it will be important to monitor how the currency performs relative to other currencies, including the U.S. dollar, moving forward.
Today, at 3:00 PM: UK Consumer Price Index, UK Retail Price Index, UK Producer Price Index; at 3:45 PM: France Consumer Price Index (flash estimate); at 6:00 PM: Eurozone Industrial Production; at 8:00 PM: South Africa Retail Sales;the US MBA Mortgage Applications Index at 9:30 PM, the Canadian CPI and the US NY Fed Manufacturing Index at 9:30 PM, Canadian existing home sales at 10:00 PM, US industrial production at 10:15 PM, US weekly crude oil inventories at 11:30 PM, and New Zealand Q2 GDP at 7:45 AM the following day.As we reach the middle of the week, we will carefully assess whether clear price movements will emerge in the latter half.
Author: Keisuke Sakurai
