All Eyes on the Chicago Fed National Activity Index
25.10.2021
- Chicago Fed National Activity Index
- Dallas Fed Manufacturing Activity Index
Last weekend, the three major U.S. stock indices posted mixed results, with stock prices remaining flat, interest rates falling, and crude oil prices rising. WTI crude oil reached $84.65, setting a new high for the month. It continues to trade at elevated levels.The fear index (VIX) rose by about 3% to around 15.4. Saudi Arabia’s energy minister maintained a cautious stance regarding demand growth due to the impact of the pandemic and made remarks suggesting reluctance toward a significant increase in crude oil production.
In the foreign exchange market, the yen buying that had continued since last weekend has paused during today’s Asian trading session, and the EUR/JPY pair has rebounded from 132.00 to 132.60. From a technical perspective, since the EUR/JPY pair continues to form lower highs and lower lows on the 4-hour chart, we’ll want to wait and see carefully to determine whether this marks a clear reversal.
Today’s economic indicators include Turkey’s Economic Sentiment Index and Capacity Utilization Rate at 4:00 p.m., and Germany’s Ifo Business Climate Index at 5:00 p.m. As U.S. trading hours begin, the Chicago Fed National Activity Index is scheduled for 9:30 p.m., followed by a statement from a member of the Bank of England’s Monetary Policy Committee (MPC) at 10:00 p.m.remarks by MPC member Tenreyro, and at 11:30 p.m., the U.S. Dallas Fed Manufacturing Activity Index. This week, policy rate announcements are scheduled from the Bank of Japan, the Bank of Canada (BOC), and the European Central Bank (ECB). We will be closely monitoring how various currencies interact against one another.
