All eyes are on the U.S. dollar’s movements following the release of the U.S. employment report
08.11.2021
- Williams (U.S.): Remarks by the President of the New York Fed
- Remarks by U.S. Federal Reserve Chair Powell
Last weekend, the three major U.S. stock indices all rose, resulting in a market environment characterized by rising stock prices, falling interest rates, and higher crude oil prices. The yield on the 10-year U.S. Treasury note fell below 1.5% to 1.46%.The U.S. nonfarm payrolls report released last weekend showed 531,000 new jobs, significantly exceeding the forecast of 450,000. However, stock prices rose as concerns about an early interest rate hike eased.
In the foreign exchange market, the EUR/USD pair saw mixed trading action as of last weekend and is currently hovering around 1.156. Although the pair briefly dipped below its recent daily low of 1.152, it closed with a lower wick, so we will need to carefully monitor today’s price action.
Today’s schedule includes the Swiss unemployment rate at 3:45 p.m., remarks by U.S. Federal Reserve Vice Chair Clarida at 11:00 p.m., remarks by U.S. Federal Reserve Chair Powell at 12:30 a.m., and remarks by U.S. Federal Reserve President Williams at 12:55 a.m.:NY Fed President, at 2:00 AM UK Bank of England Governor Bailey’s remarks and US Philadelphia Fed President Harker’s remarks, US Federal Reserve Governor Bowman’s remarks, at 3:00 AM US 3-year Treasury auction, and at 3:50 AM US Chicago Fed President Evans’ remarks.We will monitor the direction of various currencies while assessing the balance between the US dollar and European currencies.
Author: Keisuke Sakurai
