Last weekend, the movement of risk appetite in the London market turned around in the NY market, and the movement of adjustment began with the depreciation of US stocks. At the beginning of the week, transactions have started following the level of the strong dollar and strong yen since last weekend.
There are no plans to announce outstanding economic statistics or participate in lecture events by major financial officials today. After finishing the ECB board meeting last week, the market is moving to the US FOMC on the 22nd. And inflation is important as it affects US monetary policy.
The US Consumer Price Index for August will be announced tomorrow. Preliminary forecasts are + 0.4% month-on-month and + 5.3% year-on-year, both of which are expected to be as high as last July.
However, the market seems to be skeptical about whether the FOMC will suddenly declare a slowdown in bond purchases this September. There is still a strong view that rising inflation is temporary, and it has been pointed out that this time it may be a wait-and-see approach. Nevertheless, it is expected that mitigation will be decided by the end of the year.
Although it is not an important indicator, the monthly fiscal balance today, and there is a possibility that price movements will increase as attention to the US insolvency problem increases.
Also, the Swiss franc is on the market, so pay attention to this movement.