Should We Keep an Eye on the Results of the PMI (Preliminary Figures) in Various Countries?
23.11.2021
- U.S. Richmond Fed Manufacturing Index
- Germany: Manufacturing/Services PMI
Yesterday, in the U.S. markets, two of the three major stock indices fell, resulting in a market environment characterized by falling stock prices, rising interest rates, and higher crude oil prices.WTI crude oil recovered to $76.3, while gold fell sharply in tandem with the rise in the U.S. dollar, dropping about 1.95% to around $1,810. The yield on the 10-year U.S. Treasury note is hovering around 1.63%.
In the foreign exchange market, the U.S. dollar emerged as the strongest currency, and the euro/dollar pair fell slightly from 1.129 to 1.122. However, the euro has maintained its strength against the pound, which is showing signs of strength, and the euro/pound pair is trading sideways around 0.838.Similarly, against Oceania currencies, the euro is trading sideways, with the EUR/AUD pair hovering around 1.554 as it searches for direction.
Today’s schedule includes the French Manufacturing/Services PMI at 17:15, the German Manufacturing/Services PMI at 17:30, the Eurozone Manufacturing/Services PMI at 18:00, the UK Manufacturing/Services PMI at 18:30, and at 20:00, a speech by UKremarks by MPC member Haskell, at 11:45 PM the U.S. Manufacturing/Services PMI, at 12:00 AM remarks by BOE Governor Bailey and the U.S. Richmond Fed Manufacturing Index, and at 3:00 AM a U.S. 7-year Treasury auction.I plan to keep a close eye on the direction of the currency while monitoring the PMIs from various countries.
Author: Keisuke Sakurai
