This Week's Main Schedule
Days are organized by New York market dates, times are in Japan Standard Time.
8/10 MonEconomic IndicatorsNo major U.S. economic indicators
8/11 TueJapanese MarketMarkets closed for Mountain Day
Treasury Auction26:00 U.S. 3-year note auction
8/12 WedEconomic Indicators21:30 U.S. July CPI
Treasury Auction26:00 U.S. 10-year note auction
8/13 ThuEconomic Indicators21:30 U.S. July PPI / Initial Jobless Claims
Treasury Auction26:00 U.S. 30-year Bond Auction
8/14 FriEconomic Indicators21:30 U.S. July Retail Sales / 23:00 University of Michigan Consumer Sentiment Index — Preliminary
Last Week Review
Following last week's employment data, U.S. stocks did not collapse, and U.S. interest rates' decline was limited. Nevertheless, the dollar was sold.
Rather than the market pricing in a collapse in employment, it seems more natural to view that the justification for continuing to buy the dollar has weakened. The impact of short-term positions created after the currency interventions likely also played a major role in this outcome.