All eyes are on whether ECB President Lagarde’s remarks will cause a shift in the euro’s trajectory

All eyes are on whether ECB President Lagarde’s remarks will cause a shift in the euro’s trajectory

26.09.2024

In the U.S. currency market yesterday, the U.S. dollar rose against the yen despite the fact that U.S. new home sales for August, released yesterday, deteriorated to a 4.7% decline from the previous month’s 10.6% increase.The USD/JPY pair rose from 142.887 to 144.844. A trend developed along the 10-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair has broken above the 200-period simple moving average (SMA) resistance line and continues to hit new highs during today’s Asian trading session.

Among European currencies, the euro rose against the yen. The EUR/JPY pair climbed from 159.862 to 161.671. The rise has been supported by the 20-period moving average on the hourly chart, and on the 4-hour chart, the pair is trading near the +2σ line of the Bollinger Bands. Additionally, on the daily chart, it is approaching this month’s high. We will need to monitor price movements during European trading hours to see if the euro continues to rise against the yen.

Today’s schedule includes the German GfK Consumer Confidence Index at 3:00 PM, the Swiss National Bank (SNB) policy rate decision and statement at 4:30 PM, remarks by SNB Governor Jordan at 5:00 PM, the Eurozone Monthly Report at 6:00 PM, U.S. Initial Jobless Claims and Q2 GDP at 9:30 PM,U.S. Durable Goods Orders, at 10:10 PM U.S. Federal Reserve Governor Kugler’s remarks, U.S. Federal Reserve Bank of Boston President Collins’ remarks, at 10:15 PM U.S. Federal Reserve Chair Bowman’s remarks, at 10:20 PM U.S. Federal Reserve Chair Powell’s remarks, and at 10:30 PM European Central Bank President Lagarde’s remarks.We will be watching closely to see if ECB President Lagarde’s remarks trigger any shifts in the euro’s trajectory.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 07.04.2026

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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed