search

An incredible cashback rate!
40% of the spread!

Join Now

Attention on the Pound’s Downside Potential Ahead of the BOE Policy Rate Announcement

Market Report

  1. homeHOME
  2. Market Report
  3. Attention on the Pound’s Downside Potential Ahead of the BOE Policy Rate Announcement

Attention on the Pound’s Downside Potential Ahead of the BOE Policy Rate Announcement

20.09.2022

Today's Highlights
  1. Canada: Housing Price Index
  2. Switzerland: Trade Balance

Yesterday, the U.S. dollar traded in a tight range against the euro, with the EUR/USD pair fluctuating back and forth. The pair fluctuated between 0.9965 and 1.0029; on the daily chart, it is trading just below the 20-day moving average, and on the weekly chart, it remains below the 10-day moving average.With tomorrow’s FOMC meeting approaching, the direction of the market may become clearer depending on the extent of the policy rate hike, so we plan to adopt a wait-and-see approach for the time being.

Among European currencies, the euro has been holding steady at high levels against the pound.The euro/pound pair has been consolidating within a range of 0.8747 to 0.8787 while forming higher lows, and is currently trading at a new high for the year. Since no particular divergence is visible on the daily RSI, we will be watching for developments following the announcement of the UK’s policy interest rate on the 22nd of this week.

Today, at 15:00 Asia time, Germany’s Producer Price Index and Switzerland’s trade balance will be released; at 21:30 U.S. time, Canada’s Consumer Price Index and Housing Price Index, along with U.S. housing starts and building permits, will be released; and at 26:00,remarks by ECB President Lagarde and a U.S. 20-year Treasury auction, and at 28:30, remarks by BOC Deputy Governor Buehrle. With the Bank of England set to announce its policy rate on the 22nd, we will be closely monitoring whether the pound continues to weaken against European currencies.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Should We Keep a Close Eye on the U.S. Dollar’s Movements During FOMC Week?

Next Article

Should We Pay Attention to Fed Chair Powell’s Remarks at the FOMC?
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a price fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings