All Eyes on ECB President Lagarde’s Remarks
14.04.2022
- Europe: ECB Policy Rate and Statement Release
- U.S. Retail Sales
The U.S. dollar weakened against the euro yesterday but held its ground against the yen, with the USD/JPY pair briefly rising to 126.31—a 20-year high. However, the dollar’s strength was limited to the yen, as the EUR/USD pair rose by more than 100 pips from 1.080 to 1.091.From a technical perspective, we will be watching closely to see if the EUR/USD pair will resume its upward trend if it breaks above the resistance level at its recent high of 1.093 with a solid candlestick body.
Among the euro-yen cross rates, the euro-yen pair held up well, rising to 136.86.Ahead of today’s ECB policy rate announcement, the euro is holding steady. Although no rate hike is expected in today’s announcement, attention will be focused on ECB President Lagarde’s remarks regarding the central bank’s stance on the future outlook.
Today, at 20:00 European time, the Turkish Central Bank (TCMB) will announce its policy rate and statement; at 20:45, the European Central Bank (ECB) will announce its policy rate and statement; and at 21:30 U.S. time, ECB President Lagarde will hold a press conference, along with the release of Canadian manufacturing shipments and wholesale sales,U.S. initial jobless claims, U.S. retail sales, and the U.S. import price index; at 23:00, the U.S. University of Michigan Consumer Sentiment Index (preliminary reading); and at 28:50, remarks by U.S. Federal Reserve Bank of Cleveland President Mester.We will keep a close eye on the euro’s movements while paying close attention to ECB President Lagarde’s remarks.
