Bostic: Market participants should watch for price movements following remarks by the Atlanta Fed president

Bostic: Market participants should watch for price movements following remarks by the Atlanta Fed president

05.01.2023

U.S. currencies weakened against the euro yesterday as the Dollar Index fell to 104.2. The EUR/USD pair rebounded by approximately 935 pips from 1.0540 to 1.0633.The rally began from the support level provided by the 200-period SMA on the 4-hour chart. However, since yesterday’s rebound brought the pair back into range-bound territory, we should exercise caution in assessing the overall trend until the rally continues and breaks above the recent high of 1.0680.

European currencies saw lackluster trading, as the services PMI figures released yesterday for France, Germany, and the Eurozone exceeded market expectations but failed to reach the benchmark of 50.GBP/USD entered a stalemate, rising from 1.1956 before consolidating around 1.2054. The pair continues to lack direction during today’s Asian session, trading with support at the 20-period moving average on the 4-hour chart, so we will be closely monitoring price action during the U.S. session.

Today’s schedule includes: Germany’s trade balance at 4:00 PM, the UK’s services PMI at 6:30 PM, the Eurozone’s producer price index at 7:00 PM, the U.S. Challenger job cuts forecast and remarks by Harker, President of the Philadelphia Fed, at 9:30 PM, the U.S. ADP National Employment Report at 10:15 PM, and Canada’s trade balance at 10:30 PM,U.S. Initial Jobless Claims, U.S. Trade Balance, 11:20 PM: Remarks by Bostic, President of the Atlanta Fed, 11:45 PM: U.S. Services PMI, 12:30 AM: U.S. Weekly Natural Gas Inventories, 1:00 AM: U.S. Weekly Crude Oil Inventories, 3:20 AM: Remarks by Bullard, President of the St. Louis Fed.We should pay close attention to key speeches during U.S. trading hours and assess currency strength.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 13.04.2026

   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. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 09.04.2026

   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. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?