November Market Begins: Focus on U.S. Employment Statistics
As November begins, there is keen interest in whether the strength of the U.S. dollar will continue. In October, U.S. economic indicators were strong, particularly the solid employment statistics at the beginning of the month, which led to an appreciation of the dollar. Additionally, Donald Trump is reported to be leading in the U.S. presidential election, contributing to inflation concerns due to high tariffs and selling pressure on emerging market currencies, which further strengthens the dollar.
In yesterday’s Bank of Japan (BOJ) policy meeting, Governor Ueda removed the phrase “there is ample time,” raising expectations for early additional interest rate hikes, although it has not yet affected the upward trend of the dollar-yen exchange rate.
Attention on Today’s U.S. Employment Statistics
Today, U.S. employment statistics, which may continue to drive the dollar’s strength, will be released. The forecast suggests an increase of about 100,000 in non-farm payrolls, but this figure is expected to reflect the impacts of special factors such as hurricanes and corporate strikes. If the results significantly exceed expectations, they could have a substantial impact on the market, so caution is warranted.
Scheduled Economic Indicators and Key Events
In addition to the U.S. employment statistics, numerous other economic indicators will be released, including the U.K. Manufacturing PMI, Swiss Consumer Price Index, Hong Kong Retail Sales, U.S. Construction Spending, and U.S. ISM Manufacturing Index. Major corporate earnings reports from U.S. companies such as Chevron and ExxonMobil are also highly anticipated.
Trade Strategy
Today, the strategy will be to monitor the U.S. non-farm payrolls (NFP) and unemployment rate, which will be released, and to adjust trading positions based on the results.
