Market Participants May Be on Alert for Key Figures' Remarks and Interest Rate Trends in the U.S.
20.10.2021
- U.S. Weekly Crude Oil Inventories
- UK Consumer Price Index
Yesterday, the three major U.S. stock indices all rose, creating a “risk-on” market characterized by higher stock prices, higher interest rates, and higher crude oil prices.Gold fell back and is trading in the $1,773 range. The yield on the 10-year U.S. Treasury note stands at 1.66%. U.S. housing starts for September, released yesterday, came in at 1.555 million, missing the forecast of 1.615 million.
The foreign exchange market continues to see a trend of selling the yen and the U.S. dollar, and the GBP/JPY pair has hit a new high for the year. It is currently trading around 158.09. The pair has already broken above the 200-day moving average on the monthly chart, and if the rally continues, the next target will likely be around 161.93.GBP/USD has also continued to rise, reaching 1.383.
Today, at 3:00 p.m., the UK Consumer Price Index, UK Retail Sales, and UK Producer Price Index will be released; at 6:00 p.m., the Eurozone Consumer Price Index; at 8:00 p.m., the U.S. MBA Mortgage Applications Index;at 9:30 PM, the Canadian Consumer Price Index and the Canadian Housing Price Index; at 11:30 PM, U.S. weekly crude oil inventories; at 1:00 AM, remarks by U.S. Chicago Fed President Evans, U.S. Atlanta Fed President Bostic, and U.S. St. Louis Fed PresidentSt. Louis Fed President, U.S. Kashkari: Minneapolis Fed President remarks, at 26:00 U.S. 20-year Treasury auction, U.S. Quarles: Fed Chair remarks, and at 27:00 U.S. Federal Reserve Bank District Economic Reports are scheduled.We will closely monitor the strength and weakness of the U.S. dollar relative to other currencies while remaining highly vigilant regarding its recent price movements.
