Be mindful of position adjustments! The actual weekend Wednesday? "Highlights on April 8 and the event schedule"

Yesterday, from Tokyo time to European time, stock prices rose, and the retreat of risk-off continued.

After US time began, stocks initially continued to rise, but toward the latter part they stalled, and the Dow average ended in negative territory.

It might have been influenced by remarks on an economic recession from former Fed Chairs Janet Yellen and Ben Bernanke.

In addition, in the UK, reports about Prime Minister Johnson entering ICU and whether he was on a respirator or not shifted back and forth, causing the pound to swing wildly.

Although the impact of the coronavirus is easing, the market remains prone to being driven by headlines.

◎ Today’s Points of Attention

1) Retreat of the Risk-Off Sentiment

Stock prices rose yesterday and the day before, and the risk-off sentiment appears to be retreating, but it is still doubtful whether the risk-off has truly diminished.

This week, from Friday, Western and European markets will begin Easter holidays, and tomorrow Thursday is the day before the holiday, so some markets such as the bond market will have shortened trading.

Because of this, today is Wednesday, but it will feel closer to the weekend, and adjustments may also occur.

Be cautious of sudden price moves.

2) Monetary and Fiscal Policy

Other countries are announcing additional monetary and fiscal policies.

Yesterday, when the ECB announced acceptance of junk-rated assets, the euro rose.

As the risk-off sentiment from the coronavirus eases, the market has started to react to statements about monetary and fiscal policy.

Today, the FOMC minutes are also scheduled to be released.

Also, additional relief budgets from the United States are emerging, so be mindful of price movements driven by statements.

◎ Today’s Economic Event Schedule

April 8 (Wednesday)

21:15 CAD Housing Starts

21:30 CAD Building Permits

23:30 USD Crude Oil Inventories

April 9 (Thursday)

00:00 MXN Mexico Monetary Policy Minutes

03:00 USD FOMC Minutes

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