Attention is likely to focus on ECB President Lagarde’s cautionary remarks

Attention is likely to focus on ECB President Lagarde’s cautionary remarks

07.02.2022

Last weekend, the U.S. dollar showed a slight upward trend following the positive U.S. employment report, causing the EUR/USD pair to fall slightly from 1.148 to 1.141. Additionally, against Oceania currencies, the U.S. dollar rose despite surging commodity prices. The AUD/USD pair fell by approximately 100 pips from 0.715 to 0.705.Similarly, the US dollar gained ground against the British pound, with the GBP/USD pair falling by about 110 pips from 1.361 to 1.350.

European currencies had been performing strongly since ECB President Lagarde’s hawkish remarks last week, but the euro/yen pair lost momentum during today’s Asian trading session.The EUR/JPY pair fell back from this month’s high of 132.15 to 131.69. However, from a technical perspective, the pair remains above the 10-day moving average on the 4-hour chart, so we will need to carefully assess whether the decline will continue, taking into account ECB President Lagarde’s remarks today.

Today’s key economic indicators include the Swiss unemployment rate at 3:45 p.m. CET, German industrial production and UK Halifax house prices at 4:00 p.m. CET, ECB President Lagarde’s remarks at 12:45 a.m. EST, and U.S. consumer credit balances at 5:00 a.m. EST. We will be closely monitoring the situation to see if there are any significant shifts in currency strength at the start of the week.

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