Market participants may be on alert for price movements following the release of economic indicators in U.S. trading hours

Market participants may be on alert for price movements following the release of economic indicators in U.S. trading hours

08.10.2021

Yesterday, the three major U.S. stock indices all rose, creating a risk-on sentiment characterized by higher stock prices, higher interest rates, and higher oil prices. The rise in WTI crude oil was particularly sharp, with the price currently standing at $79.30 per barrel. Brent crude is also continuing to rise. Gold, however, is moving in a range around the $1,759 level, moving in the opposite direction of the strengthening U.S. dollar.

In the foreign exchange market, the EUR/USD pair has been trending lower amid the rise of the U.S. dollar. It has been declining while forming lower highs along the 20-period moving average (MA) on the 4-hour chart and is currently continuing its decline around the 1.155 level. Since the price has already broken below the 200-period simple moving average (SMA) on the weekly chart, we need to carefully assess whether the decline will accelerate from here.

Today’s schedule includes Germany’s trade balance at 3:00 PM, remarks by ECB President Lagarde and U.S. Treasury Secretary Yellen at 9:05 PM, Canada’s unemployment rate and the U.S. employment report (including the unemployment rate, average hourly earnings, and manufacturing employment) at 9:30 PM, and the U.S. wholesale inventories (final reading) at 11:00 PM.Given that today’s U.S. employment report could provide concrete details on the pace of tapering, we should pay close attention to the results of these indicators.

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