Attention is likely to focus on remarks by Bank of England Governor Bailey

Attention is likely to focus on remarks by Bank of England Governor Bailey

21.04.2021

Yesterday, European markets saw a sharp decline of more than 1%, with Germany’s DAX closing at 15,129, down 1.55% from the previous day.In the U.S. market, the three major stock indices all continued their decline, with the Dow Jones Industrial Average closing at $33,821, down 0.75% from the previous day. The fear index (VIX) surged to a high of 18.6. Crude oil prices fell, while gold prices trended upward.

In the foreign exchange market, cross-yen pairs are generally trending lower, including the euro—which was thought to be in an uptrend—as well as the pound and the U.S. dollar. The USD/JPY pair broke below 108.00 and fell to 107.8.From a technical perspective, there appears to be no support near the 107.00 level on the daily chart, so we should remain cautious about further downside moves just in case. The euro/yen pair has also fallen sharply, dropping about 110 pips from 130.9 to 129.8.

Today, the UK Consumer Price Index, UK Retail Sales, and UK Producer Price Index will be released at 3:00 PM; remarks by Bank of England Governor Bailey are scheduled for 7:30 PM; the Canadian Consumer Price Index will be released at 9:30 PM; the Bank of Canada will announce its policy rate and statement at 11:00 PM; U.S. weekly crude oil inventories will be released at 11:30 PM;and at 12:00 AM, remarks by BOC Governor Macleem, and at 2:00 AM, the US 20-year Treasury auction. With tomorrow’s ECB policy rate announcement and press conference approaching, I intend to watch European currency movements closely and cautiously.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 07.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran