Should We Keep an Eye on the Trend of Selling the Yen and Buying the Swiss Franc?
14.10.2021
- U.S. Initial Unemployment Insurance Claims
- U.S. - Birkin: Remarks by the President of the Richmond Federal Reserve Bank
Yesterday, the three major U.S. stock indices posted mixed results, with stock prices remaining flat, interest rates falling, and the U.S. dollar weakening. The U.S. Consumer Price Index released yesterday came in slightly above expectations, signaling that inflation may be here to stay.With a series of earnings reports from major U.S. companies scheduled for this week, some investors are adopting a wait-and-see approach, making it difficult to gauge the market’s direction.
As of yesterday, the Swiss franc had become the strongest currency in the foreign exchange market, and the CHF/JPY pair has continued to rise along the 20-period moving average on the hourly chart, currently trading around 122.97. During today’s Asian trading session, the pair has hit a new high for the year, and if the candlestick’s real body closes above the previous high on the weekly chart, further gains may be expected.
Today’s schedule includes remarks by Tenreiro, a member of the UK’s MPC, at 19:10; U.S. initial jobless claims, Canadian manufacturing sales, and the U.S. Producer Price Index at 21:30; and remarks by U.S. Federal Reserve Bank of St. Louis President Braad at 21:35:St. Louis Fed President, at 23:00 a speech by U.S. Atlanta Fed President Bostic, at 23:30 U.S. weekly natural gas inventories, at 23:40 a speech by UK MPC member Mann, at 24:00 U.S. weekly crude oil inventories,at 26:00, remarks by U.S. Federal Reserve Bank of Richmond President Barkin; and remarks by U.S. Federal Reserve Bank of San Francisco President Daily are scheduled. I plan to monitor price movements closely while paying attention to remarks by key figures during U.S. trading hours.
Author: Keisuke Sakurai
