Market Participants May Be on Alert for Key Figures' Remarks and Interest Rate Trends in U.S. Trading Hours
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 monthly 200-day moving average, 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 15:00: UK Consumer Price Index, UK Retail Sales, and UK Producer Price Index; at 18:00: Eurozone Consumer Price Index; at 20:00: US MBA Mortgage Applications Index;at 21:30, the Canadian Consumer Price Index and the Canadian Housing Price Index; at 23:30, U.S. weekly crude oil inventories; at 25:00, 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 remain highly vigilant regarding recent U.S. dollar price movements while closely monitoring its relative strength and weakness against other currencies.
