After U.S. Employment Data, Will Adjustment Pressure on Dollar Buying Continue Ahead of Tomorrow’s U.S. CPI and FOMC?
Following last weekend’s U.S. employment data, dollar buying has been dominant. The retreat of ruling parties in Germany and France during the European parliamentary elections, coupled with France’s announcement of national assembly elections, added to political uncertainty, leading to euro weakness and risk-averse dollar buying. However, the dollar buying has paused somewhat, and some adjustments […]
Focus on U.S. Employment Report: Key Points to Watch – Employment Numbers, Unemployment Rate, and Wages
Today, the highly anticipated U.S. employment report for May will be released, providing a crucial indicator for the direction of the dollar. The non-farm payrolls (NFP) are the most closely watched metric, with market consensus expecting an increase of 180,000 jobs compared to the previous month’s 175,000 increase. The unemployment rate is expected to remain […]
ECB Meeting: Rate Cut Expected, Focus on Future Outlook
Today’s highlight is the ECB meeting outcome. The possibility of a 25 basis points rate cut has been frequently mentioned by ECB members, making it almost a certainty. The focus will be on the future outlook. First, we need to examine any changes in the staff’s economic outlook. In the previous March forecast, inflation was […]
Responding to weak US indicators from the beginning of the week, today we have the US ADP employment statistics and ISM non-manufacturing index
This week, US economic statistics are announced daily, centered on the US employment statistics over the weekend. On Monday, the ISM manufacturing business sentiment index was unexpectedly low. Yesterday, the JOLTS job openings number decreased significantly from the previous 835.5 thousand (revised down from 848.8 thousand) to 805.9 thousand. On Monday, the manufacturing PMI final […]
Yesterday’s USD Weakening Due to Lower-than-Expected ISM; Focus on U.S. Job Openings Today
Yesterday, the NY market saw the USD weaken in response to a lower-than-expected ISM Manufacturing PMI. This caused the USD/JPY to drop to the 155 yen level, while the EUR/USD climbed above 1.09. The Dollar Index also fell to its lowest level in about two months. However, with the U.S. jobs report due on Friday, […]
Attention on a Series of Economic Indicators as the Week Begins: US PMI and ISM Manufacturing Index
As the market opens for the week, attention will be on a series of economic indicators. In Europe, the final manufacturing PMI figures for May will be released for France, Germany, the Eurozone, and the UK. This Thursday, the ECB Governing Council will announce its monetary policy, with a consensus among the market and financial […]
Dollar Market in Turmoil This Week: Will Today’s US PCE Deflator Show a Clear Direction?
This week, the dollar market has been turbulent. While rising US bond yields are exerting upward pressure on the dollar, the unstable stock market is creating disruptions, preventing a clear dollar trend. Additionally, as we approach the end of the month, there are indications that market flows are playing a significant role. Today, the US […]
Bond Yield Rise Leads to Stock Decline, Yen Appreciation: Temporary Adjustment or New Trend?
This week, rising bond yields across various countries have been notable. The slowdown in inflation appears to be stalling globally, leading to a decline in the likelihood of a rate cut by the end of the year in the US and other countries. In the forex market, the recent upward trend in USD/JPY and cross-yen […]
Steady Progression of Yen Depreciation, Strongly Driven by Dollar Strength
Recently, the yen has been steadily depreciating at a gradual pace. Following two suspected covert interventions, USD/JPY has gradually risen to the 157 level. EUR/JPY is stabilizing around 170, and GBP/JPY around 200. Yesterday, statements from Minneapolis Fed President Kashkari that “nobody has taken a rate hike off the table” and a significant increase in […]
Monitoring UK and US Market Trends After the Long Weekend
Today, we will be monitoring the market trends in the UK and US following their extended weekend. The US stock market will be a key focus. After last week’s strong earnings report from US semiconductor giant Nvidia, there is a sense that the positive momentum might have peaked. It remains to be seen if the […]