The dollar is expected to continue to appreciate in the market at the beginning of the week. Events such as the US FOMC and US employment statistics last week showed that inflation would be strengthened in the future, and the resilience of the employment situation was also a support factor. An unstable event of a plunge in US stocks occurred, but the risk-averse yen buying scheme was limited. The dollar-yen pair is showing signs of hitting the 131-yen level again at the beginning of the week.
This week, the US Consumer Price Index will be announced on Wednesday, 11th, and the Rice Producer Price Index will be announced on Thursday, 12th. The market forecast at the beginning of the week is that the consumer price index will be + 8.1% year-on-year and the producer price index will be + 10.7% year-on-year. Both are exceptionally high levels in the double digits. However, it is expected that the growth will slow down slightly from the previous value. If there is no surprise that the growth will be lower than expected, it seems that there will be no change in the US rate hike route.
The US dollar buying line of sight continues.
