Caution Over German General Election Results and the Direction of the Euro?
27.09.2021
- U.S. Evans: Remarks by the President of the Chicago Fed
- 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-dollar range. Gold continues to trade sideways and is currently hovering in the 1,759-dollar 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 high has risen 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 20:45, remarks by U.S. Federal Reserve Bank of Chicago President Evans at 21:00:, at 21:30 U.S. durable goods orders, at 22:00 remarks by U.S. Federal Reserve Bank of Chicago President Williams, at 25:50 remarks by U.S. Federal Reserve Governor Brainard, and at 26:00 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.
