U.S. – Brade: Attention on Remarks by St. Louis Fed President
29.09.2022
- U.S. Core PCE Deflator
- U.S. – Brade: Remarks by the President of the St. Louis Federal Reserve Bank
In the U.S. currency market the previous day, the U.S. dollar weakened as the Dollar Index fell by more than 1% to 113.2. The AUD/USD pair rebounded by approximately 160 pips from this year’s low of 0.6362 to 0.6529. This significant rise was driven in part by a rebound in crude oil prices.Since the AUD/USD pair has broken decisively above the 20-period moving average (MA) on the 4-hour chart with a solid candlestick body, we should closely monitor the situation to see if the upward trend will continue.
European currencies rebounded as the pound rose following the announcement of unlimited emergency long-term bond purchases. The GBP/USD pair rebounded by approximately 370 pips, rising from 1.0536 to 1.0913.The government also announced that it would postpone the start of government bond sales, originally scheduled for early October, until late October. The GBP/USD pair rebounded, breaking above the 75-period moving average on the hourly chart. It is currently trading around 1.0782, and it will be interesting to see if it continues to rise during U.S. trading hours.
Today’s schedule includes: Turkey’s Economic Confidence Index at 16:00, remarks by BOE Deputy Governor Ramsden at 20:30, remarks by SNB Board Member Mekler at 20:45, Germany’s Consumer Price Index at 21:00, Canada’s GDP at 21:30,U.S. Initial Jobless Claims, U.S. Personal Consumption Expenditures, U.S. Q2 GDP, and U.S. Core PCE Deflator; at 10:00 PM, remarks by RBNZ Governor O’Hara; at 10:30 PM, remarks by U.S. Federal Reserve Bank of St. Louis PresidentSt. Louis Fed President, at 23:30 U.S. weekly natural gas inventories, and at 26:00 remarks by U.S. Federal Reserve Bank of Cleveland President Mester are scheduled. While keeping a close eye on the pound’s rebound, we will also be monitoring the relative strength of various currencies.
