Caution Over Further Declines in 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 has recovered to the key $1,800 level and is currently trading in the $1,803 range.
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 that began earlier this month, falling from 81.10 to 80.02.However, from a technical perspective, the daily chart shows that the pair has been forming higher highs, so it will be important to monitor how it interacts with other currencies, including the U.S. dollar, going forward.
Today, at 3:00 p.m., the UK Consumer Price Index, UK Retail Price Index, and UK Producer Price Index will be released; at 3:45 p.m., the French Consumer Price Index (flash estimate); and at 6:00 p.m., the EurozoneIndustrial Production, at 8:00 PM: South African Retail Sales and the U.S. MBA Mortgage Applications Index, at 9:30 PM: Canadian Consumer Price Index and the U.S. NY Fed Manufacturing Index, at 10:00 PM: Canadian Existing Home Sales, and at 10:15 PM: U.S.Industrial Production, at 23:30 U.S. weekly crude oil inventories, and at 7:45 the following day New Zealand’s second-quarter GDP are scheduled. As we reach the middle of the week, we’ll need to carefully assess whether any clear price movements will emerge toward the end of the week.
Author: Keisuke Sakurai
