Should We Keep an Eye on Euro-Dollar Price Movements?
20.04.2022
- Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
- U.S. Weekly Crude Oil Inventories
In U.S. currency markets yesterday, the Dollar Index rose above 101, making the dollar the strongest currency. The EUR/USD pair traded in a narrow range but fell from 1.082 to 1.076. However, it rebounded during today’s Asian trading session and has recovered to 1.081.Since the EUR/USD pair has broken above the 20-period moving average on the 4-hour chart, traders should watch for a rebound and potential upward movement.
European currencies showed a slight downward trend against Oceania currencies, with the EUR/AUD falling approximately 110 pips from 1.467 to 1.455. Since the EUR/AUD is declining while being capped by the 20-day moving average on the daily chart, we will be watching closely to see if this gradual decline continues.
Today’s schedule includes the Eurozone’s industrial production and trade balance at 18:00 European time; the U.S. MBA Mortgage Applications Index at 20:00; remarks by German Bundesbank President Nagel at 21:30 U.S. time; Canada’s Consumer Price Index and Housing Price Index; and at 23:00 U.S. time,existing home sales, U.S. weekly crude oil inventories, and remarks by the President of the Federal Reserve Bank of San Francisco; at 24:30, remarks by U.S. Federal Reserve Bank of Chicago President Evans; and at 26:00, remarks by U.S. Federal Reserve Bank of Atlanta President Bostic.We will be watching the euro’s movements against the U.S. dollar closely.
Author: Keisuke Sakurai
