Investors Should Keep an Eye on Price Movements During U.S. Trading Hours on the Last Business Day of January

Investors Should Keep an Eye on Price Movements During U.S. Trading Hours on the Last Business Day of January

31.01.2022

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 late last week. It is currently trading around 1.116.From a technical perspective, the EUR/USD pair is still forming 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 due to 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 9:00 PM South Africa’s trade balance, and during U.S. trading hours at 10:00 PM Germany’s Consumer Price Index (flash estimate), at 10:30 PM Canada’s Industrial Product Prices, at 11:45 PM the U.S. Chicago Fed National Manufacturing Index, at 1:30 AM 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.