All eyes on the ECB’s policy rate moves

All eyes on the ECB’s policy rate moves

22.04.2021

Yesterday, U.S. stock markets rebounded, resulting in a risk-on environment characterized by rising stock prices, a flat U.S. dollar, and falling interest rates. The Dow Jones Industrial Average, in particular, fully recovered from the previous day’s losses and is currently trading above its 10-day moving average, indicating that the uptrend remains intact from a technical perspective. The yield on the 10-year U.S. Treasury note is hovering around 1.53%.

As of yesterday, Oceania currencies had gained some momentum in the foreign exchange market, with the AUD/USD pair attempting to rise around the 0.775 level. The EUR/AUD pair is in a stalemate, trading sideways around 1.552. The AUD/JPY pair is trading within a range of 83.2 to 84.7 and is currently attempting to rise around the 83.7 level.

Today, the Turkish Consumer Price Index is scheduled for 4:00 PM, the UK CBI Business Survey at 7:00 PM, the ECB interest rate decision at 8:45 PM, ECB President Lagarde’s press conference at 9:30 PM, U.S. initial jobless claims and the Chicago Fed National Activity Index at 9:30 PM, and the U.S.Leading Economic Index and Existing Home Sales, at 11:30 PM the US Weekly Natural Gas Inventories, and at 12:00 AM the US Kansas City Fed Manufacturing Activity Index. We will carefully monitor how today’s economic data releases affect the currency power balance.

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