All eyes are on whether the ECB will raise rates to 1.0% as expected

All eyes are on whether the ECB will raise rates to 1.0% as expected

08.09.2022

In yesterday’s U.S. currency trading, the Dollar Index fell to 109.7, while the EUR/USD rose by 130 pips from 0.9876 to 1.0008. With yesterday’s rally, the EUR/USD has broken out of its downtrend on the 4-hour chart and is now trading in a range. Currently, the EUR/USD is trading just below the 4-hour 75-MA, with price action indicating that the market is searching for direction.

Ahead of today’s ECB policy rate announcement, the euro rose against the yen. The euro/yen pair climbed approximately 2.7 yen from 141.312 yesterday to 144.031. This marked a two-month high, and the pair continued to climb during today’s Asian trading session, touching 144.328 to set a new high for the year.While the ECB is expected to raise rates to 1.0% today, attention is focused on whether it will implement a larger-than-expected rate hike in response to Europe’s unrelenting inflation.

Today’s schedule includes: France’s trade balance at 15:45, South Africa’s manufacturing production at 20:00, the ECB’s policy rate decision and statement at 21:15, U.S. initial jobless claims at 21:30, ECB President Lagarde’s press conference at 21:45, remarks by Fed Chair Powell at 22:10, and U.S.natural gas inventories at 12:00 a.m., U.S. weekly crude oil inventories at 12:00 a.m., remarks by BOC Senior Deputy Governor Rogers at 12:45 a.m., remarks by Chicago Fed President Evans at 1:00 a.m., and remarks by Minneapolis Fed President Kashkari at 3:20 a.m. All eyes will be on whether the ECB raises rates to 1.0% as expected.

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?