All eyes are on whether the euro, which is rebounding, will continue to rise
23.02.2022
- Remarks by Haskell, a Member of the MPC in the UK
- U.S. Daily: Remarks by the President of the San Francisco Federal Reserve Bank
In the previous day’s trading, the U.S. dollar came under pressure against Oceania currencies, and the AUD/USD pair rose by about 70 pips from 0.717 to 0.724.Since the AUD/USD pair continues to show a clear upward trend in both its highs and lows on the hourly chart, we will assess whether it will rise to the recent high of 0.725 while monitoring commodity prices.
European currencies rebounded as the risk of a Russian invasion receded following the announcement of sanctions against Russia by the U.S., the U.K., and the EU. The euro/yen pair rose more sharply than the pound/yen pair, climbing about 140 pips from 129.36 to 130.77.However, since the EUR/JPY pair has pulled back slightly on the hourly chart, with its upside capped by the 200 EMA, we would like to maintain a bearish outlook until it breaks decisively above the recent high of 130.90.
Today, during European trading hours, the German GfK Consumer Confidence Survey will be released at 16:00, followed by remarks from Bank of England Governor Bailey, Deputy Governor Broadbent, MPC Member Haskell, and MPC Member Tenreiro at 18:30.at 19:00, the Eurozone Consumer Price Index; at 21:00 during U.S. trading hours, the U.S. MBA Mortgage Applications Index; at 27:00, the U.S. 5-year Treasury auction; and at 29:30, remarks by U.S. Federal Reserve Bank of San Francisco President Daily.We will continue to monitor currency strength and weakness while keeping geopolitical risks in mind.
Author: Keisuke Sakurai
