U.S. Williams: Caution Over NY Fed President's Remarks?

U.S. Williams: Caution Over NY Fed President's Remarks?

31.03.2022

U.S. currencies weakened against the yen yesterday, with the USD/JPY pair falling by about 180 pips from 123.21 to 121.30. This sharp decline during the morning hours was driven by speculation that a meeting between Bank of Japan Governor Kuroda and Prime Minister Kishida might lead to measures to curb yen weakness. However, during today’s Asian trading session, the USD/JPY pair has rebounded to around 122.33.

European currencies saw the euro rebound on hopes of a de-escalation in the Ukraine crisis, with the EUR/JPY pair rising by about 2 yen from 134.85 to 136.85. The pair rebounded without falling below the 20-period moving average on the 4-hour chart and has returned to an upward bias. However, since the RSI on the 4-hour chart is at a high level of 70, we should exercise caution in assessing whether the rally will continue.

Today, at 3:00 PM CET, the UK will release its fourth-quarter GDP (final reading) and Nationwide house prices, followed by German retail sales; at 3:45 PM, France will release its producer price index; and at 4:55 PM, Germany will releaseunemployment rate at 16:55, U.S. Challenger layoff forecast at 20:30, and during U.S. trading hours, Canada’s GDP, U.S. initial jobless claims, and U.S. personal income at 21:30, remarks by U.S. Federal Reserve Bank of New York President Williams at 22:00, and the U.S. Chicago PMI at 22:45. We should remain vigilant regarding economic data releases and key speeches during U.S. trading hours.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 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

6. 15.04.2026

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

7. 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

8. 13.04.2026

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

9. 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?

10. 09.04.2026

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