Investors may be wary of significant price movements on the last Friday of the month
29.10.2021
- UK Mortgage Approvals
- European Consumer Price Index
Yesterday, the three major U.S. stock indices all rose, creating a risk-on sentiment characterized by higher stock prices, lower interest rates, and higher 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 performing strongly, and yesterday, following the ECB’s policy rate announcement, the euro emerged as the strongest currency. The euro has also been gaining ground 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 exercise caution in assessing whether this upward trend will continue.
Today, at 3:45 PM, France’s Consumer Price Index; at 4:00 PM, Switzerland’s KOF Leading Index; at 5:00 PM, Germany’s Q3 GDP (flash estimate);UK mortgage approvals at 5:30 PM, the Eurozone CPI at 6:00 PM, US personal income, US personal spending, and the US September PCE deflator at 9:30 PM, and Canadian GDP at 10:45 PM, followed by the US Chicago PMI at 10:45 PM and the US University of Michigan Consumer Sentiment Index at 11:00 PM.We will be closely monitoring the market movements on this final Friday of the month to see if there are any significant changes.
Author: Keisuke Sakurai
