Investors should watch for a flurry of statements from key figures during U.S. trading hours
22.03.2022
- Richmond Fed Manufacturing Index
- Williams (U.S.): Remarks by the President of the New York Fed
In the U.S. currency market yesterday, the pound and the U.S. dollar were locked in a tight battle, with the pound/dollar pair continuing to trade within the range that has persisted since the latter half of last week. The pound/dollar range is currently between 1.310 and 1.321, with the price hovering around 1.314. From a technical perspective, the pound/dollar pair is trading below the 20-day moving average on the daily chart, and with upside momentum capped, we will be closely monitoring the movement of the U.S. dollar.
European currencies are facing upward pressure as Russian officials stated they would “continue their attacks until a ceasefire is reached” after Ukrainian President Zelenskyy rejected what is believed to be Russia’s final ultimatum to “withdraw from Mariupol.” The EUR/GBP exchange rate, which involves two European currencies, fell by approximately 57 pips from 0.841 to 0.835.
Today’s schedule includes the UK CBI Business Survey at 20:00 CET, Canada’s Industrial and Raw Materials Price Indices at 21:30 EST, remarks by ECB President Lagarde at 22:15 CET, the Richmond Fed Manufacturing Index at 23:00 EST, and remarks by Williams:Remarks by New York Fed President Williams, at 00:15 UK time: Remarks by BOE Deputy Governor Cunliffe and SNB Governor Jordan, and at 03:00 US time: Remarks by San Francisco Fed President Daly. We will monitor these key speeches while assessing currency strength and weakness.
Author: Keisuke Sakurai
