Attention Turns to Remarks by U.S. Federal Reserve Chair Powell
21.03.2022
- Remarks by ECB President Lagarde
- Remarks by U.S. Federal Reserve Chair Powell
Last weekend, the U.S. dollar rallied against the euro, which had been trading weakly, and the EUR/USD pair fell by about 110 pips from 1.111 to 1.100.During today’s Asian session, the EUR/USD pair is trading below the 20-period moving average on the hourly chart, indicating a lack of direction at this stage. On the 4-hour chart, the pair is positioned at the midpoint of an upward channel, so we will be watching price action closely starting in the European session.
Among European currencies, the euro—like the Japanese yen—has been a weak currency. With the Swiss franc surging over the weekend, the euro/Swiss franc pair fell by about 110 pips from 1.040 to 1.028.From a technical perspective, the EUR/CHF pair is currently trading just above the 20-day moving average on the daily chart, so I would like to wait and see if it shows a solid price movement before making a decision.
Today’s schedule includes the German Producer Price Index at 16:00 European time, remarks by ECB President Lagarde at 16:30, Hong Kong’s current account balance at 17:30,Hong Kong’s Consumer Price Index at 17:30, remarks by Bostic, President of the Atlanta Fed, at 21:30, and remarks by Fed Chair Powell at 25:00. Since the Japanese market is closed today, investors should be on alert for larger-than-usual price movements.
Author: Keisuke Sakurai
