Market participants may be on alert for price fluctuations following the ECB and BOE interest rate announcements

Market participants may be on alert for price fluctuations following the ECB and BOE interest rate announcements

02.02.2023

In yesterday’s U.S. trading session, the U.S. dollar fell following the Federal Open Market Committee’s (FOMC) decision to narrow the policy interest rate range. The EUR/USD pair rose by approximately 180 pips from 1.0851 to 1.11032, reaching a new high for the year. The EUR/USD continues to rise along the daily 20-day moving average (MA), and although the daily RSI has reached 70, no divergence has been observed.We will be watching to see if the EUR/USD pair continues to rise during today’s U.S. trading hours.

Ahead of today’s Bank of England policy rate announcement, the pound strengthened against the U.S. dollar. GBP/USD rose from 1.2272 to 1.2399, breaking above the 200-period simple moving average (SMA) on the hourly chart. As GBP/USD has been rising gradually with support from the 75-period moving average (MA) on the 4-hour chart, we will be watching closely to see if it continues to rise further into European trading hours.

Today’s schedule includes Germany’s trade balance at 4:00 PM, fiscal balance at 4:45 PM, the Bank of England’s interest rate decision and statement at 9:00 PM, remarks by BOE Governor Bailey at 9:30 PM, the ECB’s interest rate decision and statement at 10:15 PM, and Canada’s housing starts and U.S. initial jobless claims at 10:30 PM,Q4 U.S. nonfarm labor productivity, at 10:45 PM: ECB President Lagarde’s press conference, at 12:00 AM: U.S. manufacturing orders index, at 12:15 AM: ECB President Lagarde’s remarks, at 12:30 AM: U.S. weekly natural gas inventories, and at 2:30 AM: SNB Governor Jordan’s remarks.We must remain highly vigilant for price fluctuations resulting from the ECB and BOE policy rate announcements.

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?