Following yesterday's developments, investors may be wary of comments from ECB President Lagarde

Following yesterday's developments, investors may be wary of comments from ECB President Lagarde

10.06.2022

In the previous session, the U.S. dollar traded in a tight range against both the yen and the pound, with GBP/USD fluctuating within a range of 1.248 to 1.255. GBP/USD has remained in a consolidation phase since the start of the month, and during today’s Asian session, it has shown signs of rebounding from the lower end of the range. We should anticipate a prevailing wait-and-see sentiment until next week’s FOMC and BOE interest rate announcements.

Following the ECB’s announcement yesterday of an interest rate hike next month, the euro lost ground against the pound. The EUR/GBP pair fell by approximately 100 pips, from 0.859 to 0.848. However, from a technical perspective, the pair remains above the 200-day SMA on the daily chart and is still trading above the 20-day MA on the weekly chart, so we need to carefully assess whether the decline will continue.

Today, at 16:00 CET, Turkey’s unemployment rate will be released; at 21:30 EST, Canada’s unemployment rate, net employment change, and first-quarter capacity utilization rate, as well as the U.S. Consumer Price Index, will be released; at 22:45 CET, ECB President Lagarde will deliver remarks; at 23:00 EST, the University of Michigan Consumer Sentiment Index (flash estimate) will be released;at 12:00 AM, remarks by German Bundesbank President Nagel; and at 3:00 AM, the U.S. budget balance. As with yesterday, we should remain vigilant regarding the content of ECB President Lagarde’s remarks.

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?