Investors Should Keep an Eye on Price Movements in U.S. Trading Hours on the Last Business Day of January
31.01.2022
- Germany: Consumer Price Index (Preliminary Figures)
- 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 fear index (VIX) fell by about 9.2% to 27.6, while gold broke below the key $1,800 level and is 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. It is currently trading around 1.116.From a technical perspective, the EUR/USD pair is still 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 as to whether the decline will continue amid the US dollar’s strength.
Today, at 16:00 European time, Turkey’s trade balance will be released; at 17:30, Hong Kong’s retail sales; at 19:00, the EU’s fourth-quarter GDP (flash estimate);at 21:00 South Africa’s trade balance, and during U.S. trading hours at 22:00 Germany’s Consumer Price Index (flash estimate), at 22:30 Canada’s Industrial Product Prices, at 23:45 the U.S. Chicago Fed National Manufacturing Index, and at 25:30 the U.S. Daily:Remarks by the President of the San Francisco Fed, and at 6:45 the following day, New Zealand’s trade balance. As this is the last day of January, I intend to closely monitor the foreign exchange market to see which direction it will move in, depending on stock prices and interest rate trends.
Author: Keisuke Sakurai
