Attention on Remarks by ECB President Lagarde

Attention on Remarks by ECB President Lagarde

09.07.2021

Yesterday, the three major U.S. stock indices all fell, leading to a market environment characterized by falling stock prices, a stronger yen, and lower interest rates. U.S. initial jobless claims released yesterday came in at 373,000, a slight increase from the previous week and above the forecast of 350,000, marking the first rise in three weeks. Combined with a decline in U.S. long-term bond yields, this resulted in an overall risk-off sentiment.

In the foreign exchange market, while the U.S. dollar is showing signs of weakness against the yen, it is holding its ground against European currencies, resulting in a僵持 state in the EUR/USD exchange rate. During yesterday’s press conference, ECB President Lagarde explicitly stated that “the 2% inflation target is not a ceiling,” signaling a willingness to tolerate inflation exceeding 2%.Since the EUR/USD pair is approaching the lower end of its range around 1.17 on the daily chart, we will be watching its future movements closely.

Today, at 3:00 PM Asia time, UK GDP and UKIndustrial Production at 15:00 Asia time, Turkey’s Current Account at 16:00 Europe time, remarks by UK BOE Governor Bailey and ECB President Lagarde at 19:00, UK Trade Balance and UK Goods Trade Balance at 20:00, Canada’s Unemployment Rate and Net Employment Change at 21:30 US time, and US Wholesale Inventories (final) at 23:00.We will closely monitor the balance between U.S. and European currencies while carefully assessing price movements over the weekend.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 16.04.2026New

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

5. 15.04.2026New

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

6. 14.04.2026

   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. 13.04.2026

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

8. 10.04.2026

   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. 09.04.2026

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

10. 08.04.2026

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