Should investors be wary of significant price fluctuations on the last Friday of the month?
29.10.2021
- UK Mortgage Approvals
- European Consumer Price Index
Yesterday, the three major stock indices in the U.S. market all rose, creating a “risk-on” sentiment characterized by higher stock prices, lower interest rates, and higher crude oil prices.WTI crude oil briefly fell to $80.70 but rebounded and is currently trading around $82.80 per barrel. U.S. initial jobless claims released yesterday came in at 281,000, compared to the market forecast of 288,000, marking the third consecutive week below 300,000.
In the foreign exchange market, European currencies have been holding steady, and yesterday, following the ECB’s policy rate announcement, the euro emerged as the strongest currency.The euro is also showing strength against the pound, another European currency, with the EUR/GBP pair rising from 0.840 to 0.847. However, from a technical perspective, the EUR/GBP pair is currently trading just above its 20-day moving average, so we need to carefully assess whether this upward trend will continue.
Today, at 3:45 p.m., France’s Consumer Price Index; at 4:00 p.m., Switzerland’s KOF Leading Index; at 5:00 p.m., Germany’s third-quarter GDP (flash estimate); at 5:30 p.m., the U.K.’s mortgage approvals; at 6:00 p.m., the Eurozone’sCPI, at 9:30 PM U.S. time: U.S. personal income, U.S. personal spending, and the U.S. September PCE deflator; at 10:45 PM U.S. time: Canadian GDP; and at 11:00 PM U.S. time: the U.S. University of Michigan Consumer Sentiment Index.We will be watching closely to see if there will be significant changes in price movements on this final Friday of the month.
Author: Keisuke Sakurai
