All eyes are on whether the ECB’s monthly report will cause the euro, which has been on an upward trend, to shift course

All eyes are on whether the ECB’s monthly report will cause the euro, which has been on an upward trend, to shift course

16.02.2023

In U.S. trading the previous day, the Canadian dollar strengthened toward the end of the session and rose against the yen.The CAD/JPY pair rose from 99.437 to 100.282. It hit a new high for the year and broke through the key 100-yen level. The current level of the CAD/JPY pair is the highest since December 20 of last year, and it has already broken above the 75-day moving average. We will closely monitor price movements during U.S. trading hours to see if the upward trend against the yen continues.

Among European currencies, the euro made significant gains against the pound. The EUR/GBP pair rose from 0.8815 to 0.8902. An uptrend has emerged along the 10-period moving average on the hourly chart. On the higher-timeframe 4-hour chart, the price rose in a straight line from the -2σ to the +3σ levels of the Bollinger Bands, and on the daily chart, the price movement offset the declines of the past four days.It remains to be seen whether the euro will continue to rise for the time being, so we need to carefully assess the direction of the market.

Today’s schedule includes Hong Kong’s unemployment rate at 5:30 PM, the ECB’s monthly report at 6:00 PM, Israel’s real GDP at 8:00 PM, Turkey’s housing price index at 8:30 PM, remarks by German Bundesbank President Nagel at 10:00 PM, U.S. initial jobless claims at 10:30 PM,U.S. Producer Price Index, U.S. Housing Starts, U.S. Philadelphia Fed Business Outlook Index, at 10:45 PM U.S. remarks by Mester, President of the Philadelphia Fed, at 12:30 AM U.S. weekly natural gas inventories, at 2:00 AM U.K. remarks by MPC member Pill, and at 6:00 AM the following day U.S. remarks by Fed Governor Cook.We will carefully assess the market direction to see if the euro, which has been strengthening on the back of the ECB’s monthly report, will shift course.

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?