What it will be! ? Stock and Forex Market of the Week!
Tokyo Stock Market Moves Within a Range?
Tokyo Stock Market Outlook (January 4-6)
Nikkei average stock price forecast range: 26,000 yen to 27,000 yen
December 30, 2022 (Friday) Closing price 26,094.50 yen
Is this week’s Tokyo stock market Nikkei 225 moving within a range?
The Nikkei Stock Average of the Tokyo stock market last week continued to fall. Although the stock market rose slightly on December 31st, US stocks fell overall due to growing concerns about an economic slowdown centered on the US. In response, the Nikkei Stock Average was also weak.
In addition, at the monetary policy meeting on December 20, the Bank of Japan changed its monetary policy to expand the fluctuation range of long-term interest rates, which is also a factor restraining the Nikkei Stock Average’s rise.
This week’s Nikkei stock average is likely to move within a range, with a strong wait-and-see mood.
In general, the sentiment at the end of last year will continue, and a heavy topside is expected. As a supporting factor, the Tokyo market on the 3rd saw the yen strengthen to the upper 129 yen level against the US dollar at one point, but the key to the market is likely to be economic trends centered on the United States.
In that regard, a series of US economic indicators will be released this week. In particular, the announcement of the December employment statistics in the United States on the 6th is drawing attention.
Tokyo foreign exchange market Is the dollar’s top price heavy?
Tokyo Foreign Exchange Market Outlook (January 4-6)
Dollar/yen forecast range: $1 = ¥128.50 to ¥132.00
January 4, 2023 (Wednesday) 00:00 $1 = ¥130.17
In the foreign exchange market this week, the dollar/yen exchange rate is likely to have a heavy topside.
Last week’s dollar-yen exchange rate fell. At one point, the dollar recovered to the low 134 yen level to the dollar. However, at the Monetary Policy Meeting on December 20, the Bank of Japan changed its monetary policy to widen the fluctuation range of long-term interest rates, and against the backdrop of concerns about a slowdown in the US economy, the dollar’s topside became heavy. . In the Tokyo market on the 3rd, the yen strengthened to the high 129 yen level to the US dollar at one point.
This week’s dollar-yen exchange rate is likely to see a heavy topside for the dollar.
Fears continue to smolder in the market that the Bank of Japan may turn its policy toward tightening monetary policy. However, caution is required as a series of US economic indicators, such as the US December employment report on the 6th, will be announced this week, which may move the market significantly.
◆ What economic indicators are scheduled to be announced this week, both domestically and internationally?
In terms of domestic economic indicators, the big launch event is scheduled for the 4th, the consumption trend survey for December on the 5th, and the monthly labor statistics for November are scheduled to be announced on the 6th.
Overseas, the US December ISM manufacturing index on the 4th, the US December ADP employment statistics on the 5th, the US November trade balance, the US December employment statistics on the 6th, the US December ISM Manufacturing PMI is expected to be announced.
(Kouichi Washio)