Attention is likely to focus on the content of the FOMC minutes

Attention is likely to focus on the content of the FOMC minutes

24.11.2021

Yesterday, two of the three major U.S. stock indices rose, resulting in a market environment characterized by rising stock prices, interest rates, and oil prices. The U.S. manufacturing and services PMI (flash estimates) released yesterday came in at 56.5, down from 57.6 in October, reflecting the impact of recent labor shortages. The Russell 2000 closed slightly lower at 2,327.

In the foreign exchange market, the Canadian dollar staged a strong rebound among the yen crosses, with the CAD/JPY pair rising from 89.95 to 90.95. On the 4-hour chart, CAD/JPY remains below the 200-day moving average (SMA), and the key question will be whether it can rise to the 200-day SMA at 91.4. Meanwhile, USD/CAD continues its upward trend and is trading around 1.268.

Today’s schedule includes the Turkish Economic Sentiment Index at 4:00 PM, the German IFO Business Climate Index at 6:00 PM, the U.S. MBA Mortgage Applications Index at 9:00 PM, U.S. Initial Jobless Claims, U.S. Q3 GDP (revised), U.S. Personal Consumption Expenditures, and U.S. Durable Goods Orders at 10:30 PM, and remarks byMPC Member Tenreyro’s remarks, at 12:00 AM: U.S. New Home Sales, U.S. University of Michigan Consumer Sentiment Index, U.S. Personal Income, and U.S. Weekly Natural Gas Inventories; at 12:30 AM: U.S. Weekly Crude Oil Inventories; and at 4:00 AM: Release of the U.S. November FOMC Minutes.We will monitor the currency strength dynamics while keeping a close eye on the content of the U.S. FOMC minutes to be released today.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed