All eyes are on the release of the FOMC minutes in U.S. time
05.01.2022
- France: Consumer Confidence Index
- Release of the FOMC Minutes for December
Yesterday, the three major U.S. stock indices saw mixed performance, with stock prices remaining flat amid rising interest rates and higher oil prices. The yield on the 10-year U.S. Treasury note briefly touched 1.68% and is currently hovering in the 1.65% range. Although cryptocurrency prices are facing resistance on the upside, they remain at yesterday’s levels, with BTC/USD trading in the $46,100 range.
In the foreign exchange market, the euro is showing signs of weakness and has been falling against the pound, another European currency; the EUR/GBP pair has declined for three consecutive days, dropping from 0.839 to 0.833. From a technical perspective, the EUR/GBP has broken well below its daily low of 0.838 at the start of the year, and since the next target low is the monthly low of 0.828, investors should be cautious of further declines.
Today’s economic indicators include the French Consumer Confidence Index at 4:45 PM, the French Services PMI (final reading) at 5:50 PM, the German Services PMI (final reading) at 5:55 PM, the Eurozone Services PMI (final reading) at 6:00 PM,the U.S. MBA Mortgage Applications Index at 21:00, the U.S. ADP National Employment Report at 22:15, Canadian Housing Starts at 22:30, the U.S. Services PMI (final reading) at 23:45, U.S. Weekly Crude Oil Inventories at 24:30, and the release of the FOMC December Meeting Minutes at 28:00.We will monitor currency strength and weakness while paying close attention to the release of U.S. economic indicators.
Author: Keisuke Sakurai
