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Caution Over German General Election Results and the Direction of European Currencies?

Market Report

Caution Over German General Election Results and the Direction of European Currencies?

27.09.2021

Today's Highlights
  1. U.S. Evans: Remarks by the President of the Chicago Fed
  2. Remarks by ECB President Lagarde

Last weekend, the three major stock indices in the U.S. market saw mixed performance, with stock prices remaining flat, interest rates falling, and crude oil prices rising.WTI crude oil rose to 75.13, setting new highs for August and September and marking its fifth consecutive day of gains. Meanwhile, BTC/USD also surged sharply, recovering to the $44,000 range. Gold continues to trade sideways and is currently hovering in the $1,759 range.

In the foreign exchange market, European currencies faced resistance on the upside, and the euro-dollar pair plummeted on Friday, the 24th, during U.S. trading hours.It fell from 1.175 to 1.170. However, from a technical perspective, the 4-hour chart shows that the pair has not made a new low, and the lows have been rising slightly. Therefore, this is a phase where we need to assess the direction of the market while closely monitoring the results of the German general election and today’s remarks by ECB President Lagarde.

Today’s schedule includes remarks by ECB President Lagarde at 8:45 p.m., remarks by U.S. Federal Reserve Bank of Chicago President Evans at 9:00 p.m.:President of the Chicago Fed, at 9:30 p.m. U.S. durable goods orders, at 10:00 p.m. remarks by U.S. Federal Reserve Bank of Chicago President Williams, at 1:50 a.m. remarks by U.S. Federal Reserve Governor Brainard, and at 2:00 a.m. a U.S. 5-year Treasury note auction.We will monitor the content of these key figures’ remarks while assessing price movements at the end of the month.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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Market Participants May Be on Guard Amid a Series of Remarks by Key Figures in the U.S.
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