Attention-grabbing employment statistics release! "Key points on April 3 and the event schedule"

The number of new unemployment insurance claims released yesterday is 6.648 million, which has doubled from 3.28 million announced last week.

In two weeks, about 10 million unemployed have emerged.

When the new unemployment insurance claims were announced, the dollar-yen fell in response.

Until now, this indicator did not move the dollar-yen, but the decline indicates that attention is increasingly focused on unemployment and the unemployment rate.

Additionally, crude oil prices have been volatile due to statements from President Trump and oil-producing countries such as Russia, Saudi Arabia, and Iran.

After dropping below $20, prices briefly rose to $27, so volatility is high and noteworthy.

◎ Today's Points of Focus

1) Employment Statistics

Last week and yesterday, the United States saw extraordinarily large figures for new unemployment claims.

In many parts of the U.S., unemployment continues to rise due to restrictions on going-out and business operations.

Today's employment statistics cover data up to mid-March, so it does not include last week’s or yesterday’s unemployment figures.

Nevertheless, the impact of the coronavirus is undeniably being felt.

It will be important to see how far employment has fallen and how much the unemployment rate has risen.

2) Economic Sentiment

Caixin Services PMI

Manufacturing numbers recently came in better than expected.

In China, manufacturing is more closely watched, but today’s services PMI is also worth checking.

European Services and Composite PMIs

In Europe, lockdowns are spreading and stores are closed, so service sector sentiment is likely to be weak.

Watch how weak service sector sentiment is and how much PMIs deteriorate.

ISM Non-Manufacturing PMI

The United States is a consumer-driven economy.

It is important to see what kind of sentiment stores and services sectors have for consumption and how the outlook for the economy is shaping up.

3) Weekend Risks

Japan is also issuing requests for voluntary restraint on going out this weekend.

Rumors of a state of emergency or city lockdown could surface, possibly affecting weekend announcements.

If announcements come on the weekend, markets may open with gaps on Monday, so risk management is advised.

Globally, infection numbers continue to rise.

In particular, the United States is seeing a rapid acceleration in cases.

Further restrictions may be enacted in the U.S.

Since the future is uncertain, it is important to manage risk for weekend positions carrying over into next week.

◎ Today's Economic Event Schedule

April 3 (Friday)

09:30 AUDAustralian Retail Sales

10:45 CNYCaixin Services PMI

16:00 TRY Turkish CPI (Consumer Price Index)

16:45 EUR Italy Composite & Services PMI

16:50 EUR France Composite & Services PMI

16:55 EUR Germany Composite & Services PMI

17:00 EUR Euro Area Composite & Services PMI

17:30 GBPUK Services PMI

18:00 EUR Euro Area Retail Sales

21:30 USDNFP Employment, Unemployment Rate, and Average Hourly Earnings

22:45 USD US Composite & Services PMI

23:00 USDISM Non-Manufacturing PMI

April 4 (Saturday)

02:00 USD Baker Hughes Rig Count

Okachan-man Recommended Analysis Tool

TradingView

A platform that handles many currency pairs, commodities, bonds, stock indices, and more, enabling various analyses.

Markets such as forex, equities, bonds, and commodities are interrelated; comparing across markets can be advantageous for trading.

Being able to overlay forex with stock indices or forex with commodities on a single chart is very convenient for comparisons.

Most features are free to use, so why not give it a try!

It also includes social features, so please consider following us ↓↓↓

https://jp.tradingview.com/u/okachanman/