Forex Top Team

In the morning of London, there are many May Day holidays, and the US ISM manufacturing index is ahead

On May 1, many markets around the world are closed for May Day, resulting in a quiet morning market in London. However, following the Bank of Japan’s decision last week, the yen has weakened, and there is a possibility that the yen exchange rate may become active again if there is an opportunity.

Later today, at 10:45 pm Japan time, the US Manufacturing PMI (final value) for April, and at 11:00 pm the US ISM Manufacturing Index (for April) and US Construction Spending (for March) will be announced. Market expectations for the highly anticipated ISM index are expected to improve from 46.3 last time to 46.8. This may be a trigger for a further rise in USD/JPY, and price movements in thin trading will be closely watched.

However, in general, with financial policy announcements from the Reserve Bank of Australia and the People’s Bank of China tomorrow, the US Federal Open Market Committee on the 3rd, and the European Central Bank on the 4th, the market is likely to be sensitive to fluctuations, including adjustments. There are also reports that JP Morgan will take over all deposits of First Republic Bank, and overall market sentiment is risk-on.

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