Investors should pay close attention to comments from MPC member Pill

Investors should pay close attention to comments from MPC member Pill

20.05.2022

The U.S. dollar was the weakest currency the previous day, falling against both the yen and the euro. It also weakened against the pound, which continues to face resistance on the upside, with the GBP/USD pair rising by approximately 200 pips from 1.233 to 1.252. The rise was particularly pronounced during U.S. trading hours, and the dollar’s resistance on the upside became evident, partly due to the impact of weak earnings reports from major retailers.

Among European currencies, the euro and the pound are locked in a tight battle; the EUR/GBP pair, which had been rising recently, has settled into a trading range between 0.844 and 0.849. However, since the EUR/GBP is trading above the 20-period moving average on the 4-hour chart and has found support at lower levels, we will monitor whether the upward trend continues, while assessing the pound’s upside potential and keeping a close eye on today’s economic data releases during European trading hours to gauge the market’s direction.

Today, the following releases are scheduled during European trading hours: UK retail sales and German producer price index at 15:00, Swiss first-quarter industrial production at 15:30, Turkish consumer confidence index at 16:00, and remarks by UK MPC member Pill at 16:30. Aside from these, no major economic indicators or key speeches are scheduled during U.S. trading hours.We will carefully assess whether today’s economic data releases will cause any changes in the pound, which has been facing resistance at higher levels.

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?