Keep an eye on price movements this Friday
19.11.2021
- Remarks by ECB President Lagarde
- Remarks by Clarida, Vice Chair of the Federal Reserve
Yesterday, two of the three major U.S. stock indices rose, resulting in a market environment characterized by higher stock prices, lower interest rates, and higher oil prices.WTI crude oil rose about 2.5% to $79.00 per barrel, while the VIX (fear index) also rose about 2.8% to 17.5. U.S. initial jobless claims released yesterday rose to 268,000 from the previous reading, exceeding the market forecast of 260,000.
As of yesterday, the New Zealand dollar emerged as the strongest currency in the foreign exchange market, causing the AUD/NZD pair—which had been on a downward trend—to rebound, rising from 1.031 to 1.034. However, from a technical perspective, the AUD/NZD pair has been forming lower lows and lower highs on the 4-hour chart, so if you plan to enter a long position, you’ll want to wait until it clearly breaks above the previous high.
Today’s schedule includes UK retail sales and German producer price index at 4:00 PM, remarks by ECB President Lagarde at 5:30 PM, remarks by MPC member Pill at 9:00 PM, remarks by Bundesbank President Weidmann at 10:00 PM, Canadian retail sales at 10:30 PM,at 12:45 a.m. US Federal Reserve Governor Waller’s remarks, at 2:15 a.m. US Federal Reserve Vice Chair Clarida’s remarks, and at 3:00 a.m. ECB President Lagarde’s remarks. We will carefully assess whether these events will create a significant trend in the market this Friday.
Author: Keisuke Sakurai
