U.S. – Braad: 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 Chairman Powell
Yesterday, in the U.S. markets, 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 crude oil prices.The yield on the 10-year U.S. Treasury note has remained flat in the 1.76% range, while gold rose about 0.4% and is trading 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.GBP/USD has been rebounding steadily from last month’s low of 1.316, and the focus will likely be on whether it can reach its next target of 1.383.
Today’s schedule includes Turkey’s current account balance at 16:00, South Africa’s manufacturing production and the U.S. NFIB Small Business Optimism Index at 20:00, remarks by U.S. Federal Reserve Bank of Cleveland President Mester at 23:12, and remarks by U.S. Federal Reserve Bank of Kansas City President George at 23:30:Kansas City Fed President, at 24:00, the confirmation hearing for Fed Chair Powell’s nomination, at 27:00, the U.S. 3-year Treasury auction, and at 6:00 the following day, remarks by U.S. St. Louis Fed President Bullard.I plan to monitor currency strength and weakness while keeping an eye on remarks by key figures during U.S. trading hours.
Author: Keisuke Sakurai
