Should we keep an eye on the trend of selling yen and buying Swiss francs?
14.10.2021
- U.S. Initial Jobless Claims
- U.S. – Barkin: 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 slew 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. The CHF/JPY pair has continued to rise along the 20-period moving average on the hourly chart and is currently trading around 122.97. During today’s Asian trading session, it has hit a new high for the year, and if the weekly candle closes above the previous high, further gains could be expected.
Today’s schedule includes remarks by UK MPC member Tenreiro at 7:10 PM, U.S. initial jobless claims and Canadian manufacturing sales at 9:30 PM, the U.S. Producer Price Index at 9:30 PM, remarks by U.S. St. Louis Fed President Bullard at 9:35 PM, and remarks by U.S. Atlanta Fed President Bostic at 11:00 PMAtlanta Fed President, at 11:30 PM: U.S. weekly natural gas inventories, at 11:40 PM: Remarks by MPC member Mann (UK), at 12:00 AM: U.S. weekly crude oil inventories, and at 2:00 AM: Remarks by Barkin, President of the Richmond Fed, and Daly, President of the San Francisco Fed.We will monitor price movements while paying close attention to remarks by key figures during U.S. trading hours.
Author: Keisuke Sakurai
