Will the trend of rising stock prices and strong currencies in resource-rich countries continue into the weekend?
24.09.2021
- Remarks by U.S. Federal Reserve Chair Powell
- Remarks by Clarida, Vice Chair of the Federal Reserve
Yesterday, the three major U.S. stock indices all rose by more than 1%, with the S&P 500 closing at 4,448 points, up 1.21% from the previous day.The number of new U.S. unemployment insurance claims released yesterday came in at 351,000, compared to market expectations of 320,000, marking a deterioration for the second consecutive week; however, the impact on the market was limited.
As of yesterday, the New Zealand dollar was the strongest currency in the foreign exchange market, and the NZD/JPY pair continued its upward trend from the day before yesterday, rising by approximately 140 pips from 76.73 to 78.11.The Australian dollar against the yen, another Oceania currency, has also risen from 79.3 to 80.6 without any significant pullbacks.
Today’s schedule includes the Turkish Economic Sentiment Index at 16:00, the German IFO Business Climate Index at 17:00, the UK CBI Retail Trade Survey at 19:00, and at 21:45, remarks by U.S. Federal Reserve Bank of Cleveland President Mester:Cleveland Fed President’s remarks; at 11:00 PM, U.S. New Home Sales; remarks by Fed Chair Powell, Fed Vice Chair Clarida, and Fed Governor Bowman; at 11:05 PM, remarks by George:Kansas City Fed President’s remarks; 25:00: U.S. Bostic: Atlanta Fed President’s remarks are scheduled. With just the final week of the month remaining next week, today—the last Friday of the weekend—we intend to carefully monitor market movements.
