Should We Pay Attention to Statements by Various Key Figures?
22.03.2021
- Remarks by Federal Reserve Chair Powell
- U.S. 10-Year Treasury Yield Rises Again
Last weekend, the rally in both European and U.S. stock markets came to a halt, giving way to a market characterized by falling stock prices, a weaker U.S. dollar, and rising interest rates.The yield on the 10-year U.S. Treasury note has been hovering around 1.68%. The Federal Reserve’s announcement that it would not extend the relief measures regarding the Supplementary Leverage Ratio (SLR) for major financial institutions—and that the measures would end at the end of March—was also a factor contributing to the decline in stock prices.
In the foreign exchange market, yen crosses opened with a downward gap for the first time in a while. The euro/dollar pair also opened with a downward gap, and as of the Asian session today, the gap has not yet been filled; the pair is currently trading around 1.185. Oceania currencies are also trading weakly, with the AUD/JPY and NZD/JPY pairs standing out among the yen crosses for their declines.
Today, the Chicago Fed National Activity Index is scheduled for release at 9:30 p.m. U.S. time, followed by remarks by German Bundesbank President Weidmann at 10:00 p.m. and remarks by Federal Reserve Chair Powell at 10:00 p.m.In addition, U.S. existing home sales data is scheduled for 11:00 p.m., along with remarks by U.S. Federal Reserve Bank of Richmond President Birkin.Furthermore, remarks by U.S. Federal Reserve Bank of San Francisco President Daily are scheduled for 2:00 a.m., followed by remarks by U.S. Federal Reserve Vice Chair Quarles at 2:30 a.m. We will carefully monitor how these remarks from various key figures impact market movements at the start of the week.
