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.
In the foreign exchange market, the New Zealand dollar emerged as the strongest currency as of yesterday, and the NZD/JPY pair continued its upward trend from the day before yesterday, rising 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 4:00 p.m., the German IFO Business Climate Index at 5:00 p.m., the UK CBI Retail Trade Survey at 7:00 p.m., and at 9:45 p.m., 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; at 25:00, U.S. Bostic: Atlanta Fed President’s remarks are scheduled. With just the final week of the month remaining next week, I intend to carefully monitor how prices move today, the last Friday of the weekend.
