All eyes are on whether comments from Tenreiro, a member of the MPC, will cause the pound to move

All eyes are on whether comments from Tenreiro, a member of the MPC, will cause the pound to move

04.04.2023

In the previous day’s U.S. currency trading, the dollar faced resistance despite Federal Reserve Governor Cook stating, “We are seeing disinflation, but further action is needed,” and the EUR/USD pair rose by approximately 120 pips from 1.0787 to 1.0916.On the daily chart, the EUR/USD pair continues to rise, supported by the 10-day moving average (MA) on the downside. If it breaks above the recent high of 1.0927, the pair is likely to target this year’s high of 1.1031, so we should remain vigilant regarding the weakness of the U.S. dollar.

Among European currencies, the EUR/GBP pair has been trending gently lower, falling from 0.8806 to 0.8771. Given that the EUR/GBP has already fallen below the 20-period moving average on the 4-hour chart and the RSI is trending downward on the daily chart, traders should pay close attention to market sentiment during today’s European trading session, which will be influenced by key speeches and economic data releases.

Today’s schedule includes Germany’s trade balance at 3:00 PM, the Eurozone’s producer price index at 6:00 PM, remarks by MPC member Tenreyro of the UK at 6:15 PM, Canada’s housing starts at 9:30 PM,at 11:00 PM: U.S. Manufacturing New Orders and U.S. JOLTS Job Openings, at 11:30 PM: Remarks by UK MPC Member Pill, at 2:30 AM: Remarks by U.S. Federal Reserve Governor Cook, at 2:45 AM: Remarks by U.S. Federal Reserve Bank of Boston President Collins, and at 7:15 AM the following day: Remarks by U.S. Federal Reserve Bank of Cleveland President Mester.We will be watching closely to see if remarks by UK MPC member Tenreiro trigger any movement in the pound.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran