This Week’s Sensitivity to US Employment-Related Indicators, Starting with ADP Employment Report
This week, the market’s attention is focused on the US employment statistics, with various labor market-related economic data being released ahead of Friday’s employment report. Yesterday, the USD/JPY exhibited a solid push into the 147 yen range during the London session, indicating a growing sentiment of upward momentum. However, the market reacted sharply to the […]
Powell’s Speech Passes Safely, Future Trends Depend on Data
In last week’s Jackson Hole Symposium, Federal Reserve Chair Powell’s speech hinted at the possibility of additional rate hikes, but it was emphasized that future actions would depend on incoming data. The content was in line with market expectations in terms of hawkishness, leading to fluctuations in the US stock market but ultimately closing in […]
Louisiana Refinery Fire Continues to Smolder, Production Disrupted
A spokesperson confirmed that the storage tank fire at the Marathon Petroleum refinery continues to smolder, a day after it led to temporary evacuations of nearby residents. Early Friday, two large tanks containing volatile naphtha ignited at the Garyville facility in Louisiana, engulfing the area in black smoke. While firefighters struggled with the blaze and […]
Dollar’s Strength Continues, Limited Movement Due to Absence of UK Participants
Today is a public holiday for the Summer Bank Holiday in the UK. With the busiest London market effectively closed, there is a somewhat cautious mood prevailing. USD/JPY rose to approach 146.61 yen in the Tokyo morning session, near last week’s high, but has since experienced some corrective movements. The decline in the yield of […]
Weekly Forecast from August 28st
For the week of August 21st to August 25th, the trading resulted in a loss of -1,118 USD. There were no significant events during the week, other than Chairman Powell’s speech at the Jackson Hole conference. The market largely remained within a range. Chairman Powell’s notable comments indicated a hawkish stance, suggesting that they are […]
Powell, Chair of the Federal Reserve, to Deliver Speech
Jerome Powell, the Chair of the Federal Reserve (FRB), is scheduled to deliver a speech at the economic symposium hosted by the Federal Reserve Bank of Kansas City (Jackson Hole Symposium). According to the minutes of the Federal Open Market Committee (FOMC) meeting held on July 25-26, released the previous week, most participants recognized that […]
Market Reacting Sensitively to Economic Indicators, Development Depending on Data
Yesterday, the euro and pound fell along with the decline in German Flash Manufacturing PMI, which unexpectedly dropped below 50, followed by weaker-than-expected Flash PMI figures for both manufacturing and services sectors in the UK. This caused the euro, pound, and USD/JPY to decline, while bond yields also decreased. However, the stock market reacted positively […]
Pound Plummets as UK PMI Flash Readings Deteriorate in Both Manufacturing and Services Sectors
The British pound has experienced a sharp drop as a reaction to the deteriorating UK PMI flash readings for August, which showed a decline in both the manufacturing and services sectors. The GBP/USD pair fell below the 1.27 level to a new low around 1.2675, while GBP/JPY plummeted from around 185 to approximately 184.24. Even […]
Jackson Hole Meeting in the Latter Half of the Week: Clues Scarce, Monitoring the Yuan’s Movement
Attention is turning to this week’s Jackson Hole meeting from the 24th to the 26th, with particular focus on Federal Reserve Chairman Powell’s speech on Friday, the 25th. The first half of this week has proven to be challenging for finding clues, partly due to the summer holiday situation. The Tokyo and London markets find […]
In the summer lull market, waiting for the Jackson Hole Symposium over the weekend might be a time to reevaluate strategies.
This week marks the peak of summer holidays for foreign participants and others. In terms of market-moving events, there are few scheduled speeches by major central bank officials. Major economic statistics for August releases are mostly available. The Jackson Hole Symposium from August 24 to 26, with a particular focus on Chairman Powell’s speech on […]