The US employment statistics last weekend were mixed. While the growth in non-farm payrolls was 199,000, well below market expectations of 450,000, the unemployment rate was 3.9%, a further drop from the previous 4.2%. Yields on 10-year US Treasury bonds have risen from around 1.72% to just before 1.80%. US stocks have been pushed down. On the other hand, in the foreign exchange market, the reaction of buying dollars stopped temporarily, and on the contrary, the movement of selling dollars spread and the weekend came.
The beginning of the week started with relatively calm transactions. In US stock futures and after-hours trading, the Dow Jones Industrial Average is small and cheap, and S & P500 and NASDAQ futures are rebounding. Asian stocks are also generally firm. The dollar-yen pair is supported in the mid-115 yen range and has risen to the 115.80 range. The cross circle is also moving steadily.
Discussions between the United States and Russia over the situation in Ukraine are continuing, and geopolitical risks are being recognized. In addition, the government has taken a strict stance against the riots in Kazakhstan, which is also a geopolitical risk. However, crude oil futures at the beginning of the week have stopped rising, and have temporarily softened to 78 units.
Economic indicators to be announced in overseas markets after this include Turkey unemployment rate (November), Eurozone unemployment rate (November), US wholesale sales (November), US wholesale inventory / confirmed figures (November), etc. .. There are no plans for a speech event by financial officials. Geopolitical risk-related reports are likely to attract attention today.
Tomorrow, the US Senate Banking Committee will hold a hearing to approve the reappointment of Fed Chairman Powell, and tomorrow, a hearing to approve the Fed’s vice chairman, Mr. Brainard. Both Democratic and Republican officials have criticized the response to inflation as being lax, and their response will be watched.
Powell’s remarks are basically the same as before, and it is assumed that they will actively move toward easing and tightening.
Where you want to pick up the dollar-yen squeeze.
