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The US ISM non-manufacturing business condition index for August will be announced today. Most expectation is 57.0, which is lower than 58.1 last month and is expected to decline for the first time in 4 months. The U.S. ISM manufacturing business sentiment index for August, which was announced on August 1, was higher than expected. If the US ISM non-manufacturing business index in August has similar results, the yen may be sold due to risk appetite due to expectations of the US economic recovery.
August ISM Non-Manufacturing Business Business Index (Comprehensive) Previous 58.1 Forecast 57.0
Today assume that price movements will increase after this. However, I think that there is a possibility that, before the ISM, there will be some resale from the USD buying up to this point, due to a sense of caution.
〇 ECB is worried that the appreciation of the euro will push down prices, and the new Fed policy is a problem
European Central Bank (ECB) policymakers have warned that if the euro continues to rise, it could put pressure on exports while simultaneously pushing down prices and increasing pressure for further monetary stimulus. The report was published by the Financial Times (FT), citing the statements of anonymous members of the Policy Committee.
Members of the policy committee told the newspaper that the appreciation of the euro against the US dollar and many other currencies could hinder the economic recovery of the euro area. The ECB will decide monetary policy at the policy committee next week.
“The euro has risen over the last few weeks. The eurozone is one of the world’s most open economies, and demand is weak because it relies heavily on global demand,” the report said. If the euro appreciation is always a concern,” he said.
(Source: Bloomberg)
The EURUSD did not stop rising and tried to 1.2000, but assuming that it is likely that the EUR will show a weak movement until the 10th of next week.
If you have a sales office for EUR, we are thinking of selling it in the form of EURAUD, EURNZD, etc.
Currently, the power balance in 15 minutes is
USD ＞ CHF ＞ CAD = JPY ＞ NZD ＞ GBP ＞ AUD ＞ EUR
