Should we pay close attention to ECB President Lagarde’s remarks on interest rate hikes?

Should we pay close attention to ECB President Lagarde’s remarks on interest rate hikes?

01.06.2022

Yesterday, the U.S. dollar strengthened against the euro, with the EUR/USD pair falling 100 pips from 1.078 to 1.067. However, from a technical perspective, the pair appears to be finding support at the 200-period EMA on the 4-hour chart, so we will be watching to see if the decline continues or if the pair first breaks below the recent low of 1.064.

European currencies fell against the U.S. dollar despite the fact that the Eurozone’s May consumer price index, released yesterday, hit a record high of 8.1%, exceeding the market forecast of 7.7%.GBP/USD fell 90 pips from 1.265 to 1.255 and continues to test lower levels during today’s Asian trading session. We will be watching closely to see if GBP/USD finds support near the 20-day moving average (MA) at 1.253.

Today’s schedule includes the UK Nationwide House Price Index and German retail sales at 16:00 CET, the Swiss Manufacturing PMI at 16:30, and the UK Manufacturing PMI at 17:30, followed by the ECB’s Lagarde speech, the U.S. MBA Mortgage Applications Index, the Bank of Canada’s policy rate and statement at 20:00 CET, the U.S. ISM Manufacturing PMI, and the U.S. ISM Manufacturing PMI at 24:30.remarks by ECB President Lagarde, the U.S. MBA Mortgage Applications Index, the Canadian BOC policy rate and statement at 11:00 PM, the U.S. ISM Manufacturing PMI, remarks by U.S. NY Fed President Williams at 12:30 AM, remarks by U.S. St. Louis Fed President Bullard at 2:00 AM, and the U.S. Federal Reserve Beige Book at 4:00 AM.We should pay close attention to the content of ECB President Lagarde’s remarks to see how European currencies, which have been weakening against the U.S. dollar, will react to today’s European and U.S. speeches.

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?