search

An incredible cashback rate!
40% of the spread!

Join Now

All eyes are on whether the central bank governor’s remarks at the ECB Forum will shift the trend of yen weakness

Market Report

  1. homeHOME
  2. Market Report
  3. All eyes are on whether the central bank governor’s remarks at the ECB Forum will shift the trend of yen weakness

All eyes are on whether the central bank governor’s remarks at the ECB Forum will signal a shift in the yen’s downward trend

28.06.2023

Today's Highlights
  1. ECB Forum
  2. German GfK Consumer Confidence Survey

In U.S. currency trading the previous day, the U.S. dollar fell against the euro despite the Dollar Index temporarily rising to 102.6. The EUR/USD pair rose by approximately 70 pips from 1.0902 to 1.0975, forming an uptrend along the 10-period moving average on the hourly chart.During today’s Asian session, the EUR/USD pair is showing a rebound, supported by the 20-period moving average on the hourly chart; therefore, we will be closely monitoring whether the US dollar’s decline continues during the European session.

European currencies saw the euro emerge as the strongest currency after ECB President Lagarde stated in her keynote speech at yesterday’s ECB Forum that “unless there are significant changes to the outlook, we will continue raising interest rates in July.” The euro/yen pair rose to 157.935.It has remained at levels not seen in 15 years, since the Lehman Shock in September 2008. During today’s Asian trading session, the 20-period moving average (MA) on the hourly chart is providing solid support, but with key officials’ remarks scheduled later today, traders should remain cautious regarding the direction of the market.

Today’s economic indicators include the German GfK Consumer Confidence Survey at 15:00, the French Consumer Confidence Index at 15:45, the Eurozone M3 Money Supply at 17:00, remarks by MPC member Pill at 19:30, the U.S. MBA Mortgage Applications Index at 20:00,at 21:30, U.S. Wholesale Inventories; at 22:30, remarks by Bank of Japan Governor Ueda, remarks by Bank of England Governor Bailey, remarks by ECB President Lagarde, and remarks by Fed Chair Powell; at 23:30, U.S. Weekly Crude Oil Inventories;and at 26:00, a U.S. 7-year Treasury auction is scheduled. We will be closely monitoring whether the central bank governors’ remarks at the ECB Forum lead to shifts in currency strength.

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

All eyes are on whether Canada’s CPI will fall below the previous reading of 4.4% year-over-year.

Next Article

Will there be end-of-month rebalancing activity following the ECB Forum, or will the market remain on the sidelines?
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 taking notice.

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 exchange 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 an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 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