Keep an eye on the direction of the pound, which is currently at its weakest

Keep an eye on the direction of the pound, which is currently at its weakest

29.09.2021

Yesterday, the three major U.S. stock indices all fell, resulting in a market environment characterized by falling stock prices, rising interest rates, and higher oil prices. U.S. Treasury Secretary Yellen stated yesterday regarding concerns over a potential default, “If Congress does not act by October 18, the Treasury will run out of funds,” causing stock prices to plummet on fears of a default.

As of yesterday, the pound was the weakest currency in the foreign exchange market, with GBP/JPY falling by approximately 200 pips from 152.56 to 150.59. GBP/USD also declined by about 200 pips, dropping from 1.371 to 1.352.Technically, since GBP/USD has clearly broken below both its previous highs and lows on the daily chart, we will be watching closely to see if it falls to 1.337, which is near the weekly 200-day moving average.

Today’s schedule includes: Germany’s Import Price Index at 3:00 PM, Turkey’s Economic Confidence Index at 4:00 PM, UK Mortgage Approvals and UK Consumer Credit at 5:30 PM, the US MBA Mortgage Applications Index at 8:00 PM, Canada’s Industrial Product Prices at 9:30 PM, and US Federal Reserve Bank of Philadelphia President Harker’s remarks at 10:00 PM:Philadelphia Fed President’s remarks, at 11:00 PM: U.S. Pending Home Sales, at 11:30 PM: U.S. Weekly Crude Oil Inventories, at 12:45 AM: U.K. BOE Governor Bailey’s remarks, EU ECB President Lagarde’s remarks, Japan BOJ Governor Kuroda’s remarks, U.S. Fed Chair Powell’s remarks, and at 2:00 AM: U.S. Daily:Remarks by the President of the Federal Reserve Bank of San Francisco at 02:00, and remarks by Bostic, President of the Federal Reserve Bank of Atlanta, at 03:00. We will be watching closely to see if the pound, which has been weakening, will rebound in the final week of the month.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed