U.S. – Brade: Should We Pay Attention to the St. Louis Fed President’s Remarks?
11.01.2022
- U.S. – Brade: Remarks by the President of the St. Louis Federal Reserve Bank
- Confirmation Hearing for Federal Reserve Chair Powell
Yesterday, in the U.S. market, two of the three major stock indices—the Dow Jones Industrial Average and the S&P 500—fell, resulting in a market environment characterized by lower stock prices, flat interest rates, and lower oil prices. The yield on the 10-year U.S. Treasury note remained flat in the 1.76% range, while gold rose by about 0.4% and traded in the $1,762 range.
In the foreign exchange market, the GBP/USD pair has continued to rise gradually amid a weakening U.S. dollar, hitting a new high for the month and trading around 1.359. The pair has rebounded steadily from last month’s low of 1.316, and the focus will now be on whether it can reach its next target of 1.383.
Today’s schedule includes Turkey’s current account balance at 4:00 PM, South Africa’s manufacturing production and the U.S. NFIB Small Business Optimism Index at 8:00 PM, remarks by U.S. Federal Reserve Bank of Cleveland President Mester at 11:12 PM, and remarks by U.S. Federal Reserve Bank of Kansas City President George at 11:30 PM,Kansas City Fed President George, at 12:00 AM, the confirmation hearing for Fed Chair Powell, at 3:00 AM, the U.S. 3-year Treasury auction, and at 6:00 AM the following day, remarks by U.S. St. Louis Fed President Bullard. I plan to monitor currency strength and weakness while paying close attention to key speeches during U.S. trading hours.
Author: Keisuke Sakurai
