All eyes on the U.S. ISM Non-Manufacturing Purchasing Managers' Index

All eyes on the U.S. ISM Non-Manufacturing Purchasing Managers' Index

03.12.2021

Yesterday, the three major U.S. stock indices all rose, resulting in a market environment characterized by rising stock prices, flat interest rates, and flat crude oil prices. The VIX (fear index) fell by about 10% from the previous day. While U.S. stocks are on an upward trend, Japanese stocks are facing resistance at higher levels, with the Nikkei 225 hovering around 27,692 yen.

In the foreign exchange market, the euro has been falling against the U.S. dollar, with the EUR/USD pair dropping from 1.134 to 1.129. From a technical perspective, the EUR/USD pair is declining as it is being capped by the 20-day moving average on the daily chart; therefore, we need to closely monitor whether this downward trend will continue due to the strength of the U.S. dollar.

Today’s schedule includes French industrial production at 4:45 PM, remarks by ECB President Lagarde at 5:30 PM, UK Services PMI at 6:30 PM, Eurozone retail sales at 7:00 PM, remarks by MPC member Saunders at 8:00 PM, Canadian unemployment rate and U.S. employment report at 10:30 PM, and remarks by U.S. Federal Reserve Governor Brainard at 11:15 PM:St. Louis Fed President, 11:45 PM: US Services PMI (final reading), and 12:00 AM: US ISM Non-Manufacturing Index. I plan to closely monitor the various economic indicators scheduled for release today during US trading hours and observe currency strength and weakness.

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