The July market price started from today. However, the timing of the weekend Friday. The US employment statistics will be released a week later, so it’s a little difficult today. This week, US FRB Chairman Jerome Powell reignited the strong dollar pressure, and the stock market has become unstable due to concerns over a slowdown in the economy. The dollar-yen pair rose to just 137 yen, the highest level since September 1998, but is currently adjusting to the 134-yen level.
The scenario of widening the interest rate differential between Japan and the United States is alive and well, and there is a strong view that the dollar-yen pair is aiming for 140 yen in terms of interest rates. On the other hand, in the short term, unstable movements in the stock market are likely to act on risk-warning yen buying. It seems likely that adjustments will take the lead in overseas markets after this due to material shortages on weekends.
Economic indicators to be announced in overseas markets after this are manufacturing PMI confirmed figures (June), Euro zone consumer price index / preliminary figures (June), and the United States in France, Germany, the Eurozone, the United Kingdom, and the United States. Construction spending / confirmed figures (May), US ISM manufacturing economic index (June), etc. The US ISM Manufacturing Index is likely to attract attention amid a sense of caution about the slowdown in the US economy. Most market expectations are 54.5, down from 56.1 last May.
Regarding the remark event, a lecture by the Governor of the Central Bank of Spain, Dekos, is scheduled. The ECB launches a new bond purchase scheme.
Adjustment market continues. This week, the trendless market continues and losses are expanding. GOLD buying from yesterday also stopped out. The situation where I can not get on the flow at all.
Today is July 1st, starting in the first half of 2022. The flow may change again, so I would like to observe it first.