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. 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 AUD/JPY pair, 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 PM, the German IFO Business Climate Index at 5:00 PM, the UK CBI Retail Trade Survey at 7:00 PM, and at 9:45 PM, remarks by U.S. Federal Reserve Governor Mester:Cleveland Fed President remarks, 11:00 PM: U.S. New Home Sales, U.S. Fed Chair Powell remarks, U.S. Fed Vice Chair Clarida remarks, U.S. Fed Governor Bowman remarks, 11:05 PM: U.S. George: Kansas City Fed President remarks, and 1:00 AM: U.S. Bostic: Atlanta Fed President remarks.With only the final week of the month remaining next week, I intend to carefully monitor market movements today, the last Friday of the weekend.
Author: Keisuke Sakurai
