Attention is likely to focus on remarks by Bank of England Deputy Governor Broadbent

Attention is likely to focus on remarks by Bank of England Deputy Governor Broadbent

20.10.2022

In the U.S. currency market yesterday, the dollar became the strongest currency as the Dollar Index recovered to 113 after having been on a downward trend. The EUR/USD pair, which had been rising, fell from 0.9871 to 0.9756.This represented a decline of approximately 100 pips, roughly equivalent to the previous day’s gain. However, since the daily chart continues to show higher lows, the pair appears to be forming a pennant within a downtrend. We will monitor the situation carefully to see if it resumes the downtrend after a period of consolidation.

European currencies saw the falling pound weaken further against the euro.GBP/AUD fell slightly from 1.7975 to 1.7851, briefly dipping below the 20-period moving average on the 4-hour chart. However, during today’s Asian session, the pound has recovered and is rebounding. GBP/AUD is currently trading around 1.7968, and as it appears poised to test higher levels, we will monitor the market’s direction while keeping an eye on remarks from key UK officials during the European session.

Today, at 3:00 PM, Germany’s Producer Price Index and Switzerland’s trade balance will be released;at 5:30 PM: Remarks by Bank of England Deputy Governor Broadbent; at 8:00 PM: Turkey’s CBRT policy rate and statement; at 9:30 PM: Canada’s House Price Index, U.S. Initial Jobless Claims, and the U.S. Philadelphia Fed Business Outlook Index; at 11:00 PM: U.S. Existing Home Sales and the U.S. Leading Economic Index;23:30 US Weekly Natural Gas Inventories, 25:00 US remarks by Harker, President of the Philadelphia Fed, 25:30 US remarks by Cook, Fed Governor, 26:30 US remarks by Jefferson, Fed Governor, 27:05 US remarks by Bowman, Fed Governor.We should keep an eye on price movements in the pound following remarks by UK officials.

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?