Attention May Turn to Remarks by a Member of the Bank of England’s MPC
15.11.2021
- Remarks by Bank of England Governor Bailey
- Remarks by a Member of the Bank of England’s Monetary Policy Committee
Last weekend, all three major U.S. stock indices rose, with the Dow Jones Industrial Average rebounding for the first time in four days. The market was characterized by rising stock prices, flat interest rates, and falling crude oil prices.WTI crude oil fell below $80, dropping to $78.9 per barrel. In an interview on the 14th, U.S. Treasury Secretary Yellen stated that “the current inflation is driven by the COVID-19 pandemic,” indicating her view that bringing the pandemic under control is key to curbing rising inflation.
In the foreign exchange market, with the Dollar Index holding steady around 95.0, the euro/dollar pair rebounded slightly after hitting this month’s low of 1.143 and is currently stagnating around 1.145.On the weekly chart, the EUR/USD has broken well below the 200-day SMA, and we will need to monitor the situation closely to see if the decline continues.
Today’s economic indicators include: Turkey’s housing sales at 16:00, remarks by UK MPC member Haskell at 18:30, the Eurozone trade balance and remarks by ECB President Lagarde at 19:00, and Canada’s manufacturing shipments and wholesale sales at 22:30,U.S. NY Fed Manufacturing Index at 22:30, Canadian Existing Home Sales at 23:00, and remarks by UK BOE Governor Bailey, UK MPC Board Member Pill, UK MPC Member Mann, and UK MPC Member Saunders at 23:30.I plan to monitor price movements closely while keeping an eye on the balance between the US dollar—which is facing resistance—and European currencies.
Author: Keisuke Sakurai
