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Forex weekly Outlook: the dollar is sluggish, Powell FED chair’s congressional testimony in focus

*14:57JST exchange rates weekly Outlook: the dollar is sluggish, Powell FED chair’s congressional testimony in focus
【Last summary】
■The dollar・yen is temporary 110 yen 02 Sen,the United States stock market rally in the dollar buying strength to

Last week the dollar・yen is strong including. The new coronavirus infection to expand wary of the risk aversion dollar selling was preceded,新型肺炎 of effective therapeutic agents are developed and speculation or virus infection of early termination is expected to emerge as risk aversion move somewhere. The people’s Bank of China[Central Bank] by a large amount of liquidity supply measures are also likable it seems. US stocks 2 months from 3 days to 4 days in a row, rising US long-term interest rates is reversed as risk appetite by buy USD・sell JPY and became active, the dollar・yen is day 7 of the Asian market at 110 yen 02 sen or bought.

Day 7 of the New York Forex market, the dollar・yen is 110 yen 00 Sen rising after the 109 yen 53 sen in Week. This day Published 1 month US dollar non-farm payrolls exceeded market expectations this from,as it sought for. However, the U.S. Federal Reserve [the FED]to be submitted by the first quarter of each monetary policy report”新型肺炎 spread of infection is a new threat to”the view, it was shown that anaerobic, and risk appetite General buy USD・sell JPY and weak economy. The global economic slowdown on the market for years is again high, the US stock week and US long-term interest rates decline to conscious the price was observed. Dollar yen is after all, the 109 yen 77 sen in this week’s trading finished. Dollar・yen trading range:108 yen 32 sen−110 yen 02 Sen.

[Thisweek’sOutlook】
■The dollar is sluggish, Powell FED chair’s congressional testimony in focus

This week the dollar・yen is sluggish. 2 month 11 days,12 days scheduled for Powell to Federal Reserve [FED]Chairman’s congressional testimony has been the focus of attention, the novelty of the virus in the U.S. economy to consider the impact of economic prospects and the rate hike about the careful attitude for the show may be. China new type of corona virus infection early end to the expectations of and vaccine development against the background of the U.S. stocks will rise again if risk appetite by Yen selling is predominant and it is this week, announced 1 October the Consumer Price Index and the 1 month retail sales is below market expectations, if the risk appetite by buying dollars or suppressed it.

China, such as the new coronavirus infection of the damage is not expanding, and by 2020 China’s economic slowdown is inevitable, the perception is growing that the rise of the dollar to suppress part of the reason seems. Announced that China and the country’s trading relationships with the Asian countries economic indicators such as the impact of the case,the investor’s risk tolerance is reduced for the time being.

[US・1onthecoreCPIindex[CPI]】[13dayswillbeannounced] 13 announcement of 1 month the core CPI index [CPI] year-on-year+2.2%, the inflation rate is 12 figures likely to fall below. Market expectations and if it matches, then the U.S. interest rate long-term deferred and the view of a stronger dollar, buy the materials is not.

[US・1monthretailsales】[14dayswillbeannounced] 14 announcement of 1 November retail sales rise+0.3%, the growth rate is 12 on the same level as expected. Market expectations are exceeded,recovery in private consumption awareness,gross domestic product [GDP]of improvement you can expect from the dollar, buying material being.

Expectations:109 yen 00 Sen−110 yen 50 sen《FA》


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