search
Install Now

An incredible cashback rate!
40% of the spread!

Join Now

Caution Over the Euro's Direction Ahead of Tomorrow's ECB Meeting?

Market Report

Caution Over the Euro's Direction Ahead of Tomorrow's ECB Meeting?

26.10.2022

Today's Highlights
  1. Canada: BOC Policy Rate and Statement Release
  2. U.S. Weekly Crude Oil Inventories

U.S. currencies weakened the previous day as expectations for a significant rate hike at the next FOMC meeting receded due to inflationary pressures. The EUR/USD pair rose by approximately 120 pips, from 0.9848 to 0.9975.The pair broke above the daily downtrend line—which had been in place since February 7 of this year—with a candlestick body. If the EUR/USD continues to rise from here, attention will focus on whether it can break above the recent daily high of 0.9999.

European currencies rose, with the euro gaining against the yen after Germany’s October Ifo Business Climate Index, released yesterday, came in at 84.3—exceeding the market forecast of 83.6. The euro’s rise against the yen has continued since immediately after the currency intervention the day before yesterday, and it is currently trading around 147.662.With a 0.75% rate hike expected at tomorrow’s ECB meeting, we will be closely watching to see if the euro continues to rise.

Today’s economic indicators include the French Consumer Confidence Index at 15:45, the U.S. MBA Mortgage Applications Index at 20:00, U.S. Wholesale Inventories (Preliminary) at 21:30,at 11:00 PM, the Canadian BOC policy rate and statement, U.S. new home sales; at 11:30 PM, U.S. weekly crude oil inventories; at 12:00 AM, a press conference by BOC Governor McUlem; and at 2:00 AM, a U.S. 5-year Treasury auction.With the ECB meeting tomorrow, we’ll need to watch the euro’s direction closely to see if it will rise.

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 an Eye on the Upside Potential for European Currencies Following Weaker-than-Expected Economic Indicators?

Next Article

With the yen strengthening, should we keep a close eye on the pound, which is holding up well on the downside?
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 paying close attention to this feature.

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 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 fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden 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 one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for four 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 four hours.

Return to Notification Settings