Should We Keep an Eye on the Trend of Cross-Yen Pairs, Which Are Rising Gradually?
27.01.2022
- U.S. Personal Consumption
- U.S. Initial Unemployment Insurance Claims
Yesterday, in the U.S. markets, two of the three major stock indices fell toward the close, resulting in a market environment characterized by falling stock prices, rising interest rates, and lower gold prices.In the commodities market, while both silver and gold fell, palladium posted a significant gain, rising more than 5.6%. The fear index (VIX) has yet to break out of its high range and is trading around 31.9.
In the foreign exchange market, cross-yen pairs are trading slightly higher, with GBP/JPY rising from yesterday’s low of 153.56 to 154.73.However, from a technical perspective, GBP/JPY has pulled back after being capped by the 200-period moving average on the hourly chart, and it will be worth watching whether this pullback stops without falling below the recent low of 152.90.
Today, at 16:00 European time, the German GfK Consumer Confidence Index and the Swiss trade balance will be released; at 20:00, the UK CBI Retail Trade Survey will be released; and at 22:30 U.S. time, U.S. initial jobless claims and U.S. fourth-quarter GDP (flash estimate) will be released,U.S. personal consumption, U.S. durable goods orders; at 24:00, U.S. pending home sales; at 24:30, U.S. weekly natural gas inventories; at 25:00, the U.S. Kansas City Fed Manufacturing Index; and at 27:00, a U.S. 7-year Treasury auction.With the U.S. dollar on the rise, I want to carefully assess which direction European currencies will take.
Author: Keisuke Sakurai
