Investors should watch for movements in the U.S. dollar following the release of U.S. employment data
07.01.2022
- U.S. Employment Report
- Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
Yesterday, the three major U.S. stock indices all fell further, resulting in a market environment characterized by falling stock prices, rising interest rates, and higher oil prices. The yield on the 10-year U.S. Treasury note has risen to 1.71%. The VIX (fear index) has stabilized somewhat and is currently hovering around 19.6. BTSUSD continued to decline today, falling to around $41,230.
In the foreign exchange market, the Dollar Index continues to trade sideways around 96.21, while the euro/dollar pair is moving without a clear direction and is currently trading around 1.130. From a technical perspective, since the euro/dollar pair has not yet broken out of the range-bound trading seen since last month, a significant trend is likely to emerge if it breaks decisively below 1.123 or above 1.138.
Today’s schedule includes the UK Halifax House Price Index at 16:00 (European time), Swiss Retail Sales at 16:30, French Industrial Production at 16:45, the UK Construction PMI at 18:30, and the Eurozone Consumer Price Index at 19:00. Once U.S. trading hours begin, the U.S. Employment Report is scheduled for 22:30,the Canadian unemployment rate, the Canadian Ivey PMI at 24:00, remarks by the President of the San Francisco Fed at 25:00, and remarks by the President of the Atlanta Fed at 26:15. I plan to keep a close eye on the US employment report results while monitoring currency strength and weakness.
Author: Keisuke Sakurai
