A Day to Forecast This Week! “Key Points and Event Schedule for March 23”

When the coronavirus began to attract attention, stock prices have continued to decline from January highs, the Dow down by 35%, and the Nikkei down by 30% as well.

The pace of the decline is faster than during the Lehman Brothers collapse, and it seems to resemble the Great Depression era.

If movements mirror those of the Great Depression, there would be a temporary rebound after dropping about 30%...

As the decline continues, will it fall even further than the Great Depression, and I am watching the stock price movements closely.

◎ Today's Points of Focus

1) Stock Prices

European and American stocks were holding steady in the latter half of last week.

In Japan, Friday was a holiday and markets were closed, so today is the first trading day after the holidays.

Recently, market attention has been on how coronavirus countermeasures will affect the economy and what impact that will have on stock prices.

There is focus on whether the decline in stock prices will subside.

Whether this week will bring another volatile market, whether stock prices will continue to fall, or whether they will reverse and rise—today's movements will be watched closely.

2) Dollar Strength

In a risk-off scenario, funds are being converted to cash in dollars, and demand for dollars as a settlement currency has kept the dollar strong.

The dollar strength has progressed quite a bit, and I would not be surprised to see some restraint statements about dollar strength, but the United States does not seem to be concerned about dollar strength, and so far no restraint statements have emerged.

Will the dollar continue to strengthen today, or will restraint statements finally appear? All eyes are on this.

◎ Today's Event Schedule

Monday, March 23

21:30 CAD Canada Wholesale Sales

00:00 EUR Euro-area Consumer Confidence (Flash Estimate)

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