The foreign exchange market at the beginning of the week has been relatively moderate. None of the major currencies show any particular direction, and buying and selling are mixed. The dollar-yen pair was around 113 yen, the euro-dollar pair was around 1.13, and the pound-dollar pair was in the low 1.32 range. It’s not as nervous as last weekend.
While the new mutant strain called Omicron strain is said to have strong infectivity, it is also reported that there are few cases of aggravation. It is necessary to verify whether the conventional vaccine is effective for 2-3 weeks. The current market price is in a mood to determine the situation, and it seems that it is a market price at the beginning of the week when it is difficult to actively buy and sell.
Today is the beginning of the week, there are no plans to announce any conspicuous economic indicators. Next week, the US FOMC, the British Central Bank, the ECB and others will make the final monetary policy announcement this year. Partly because of that, it seems that the wait-and-see mood is likely to spread this week.
Economic indicators to be announced in overseas markets after this are German manufacturing orders (October), British construction PMI (November), etc. All of them remain in the index group with relatively low attention.
Regarding the remark event, the Deputy Governor of the Bank of China Broadbent will give a lecture on the outlook for monetary policy from 8:30 pm Japan time. The Bank of England has shelved a rate hike in November. Judging whether the employment situation is solid under high inflation is considered to be the key to starting the rate hike. How about the Vice President’s awareness of the current situation ahead of next week’s meeting?
There are no conspicuous economic indicators today, and it is assumed that large price movements are unlikely to occur. The basic is the range market.
