Investors should keep an eye on price movements in U.S. markets on the last business day of January
31.01.2022
- Germany: Consumer Price Index (Preliminary)
- Prices of Agricultural and Industrial Products
Yesterday, the three major U.S. stock indices all rebounded, leading to a market environment characterized by rising stock prices, falling interest rates, and lower gold prices. The VIX (fear index) fell by about 9.2% to 27.6, while gold broke below the key $1,800 level and is currently trading around $1,793. WTI crude oil continues to trade near its high of $87.8.
In the foreign exchange market, the euro, which had been under pressure from the U.S. dollar, staged a rebound. The EUR/USD pair bounced back after touching this month’s low of 1.112 last weekend and is currently trading around 1.116. From a technical perspective, the EUR/USD pair remains in a downtrend on the daily chart, and with the 1.112–1.097 range acting as a no-man’s-land, we need to remain vigilant about whether the decline will continue amid the U.S. dollar’s strength.
Today, at 16:00 CET, Turkey’s trade balance will be released, followed by Hong Kong’s retail sales at 17:30, the EU’s Q4 GDP (flash estimate) at 19:00,South Africa’s trade balance at 21:00, Germany’s Consumer Price Index (flash estimate) at 22:00 (U.S. time), Canada’s Industrial Product Prices at 22:30, the U.S. Chicago Fed National Manufacturing Index at 23:45, remarks by the President of the San Francisco Fed at 25:30, and New Zealand’s trade balance at 6:45 the following day.We will be watching the foreign exchange market closely on the last day of January to see which direction it moves in response to stock prices and interest rate trends.
Author: Keisuke Sakurai
