Will remarks by key figures affect the strength of the U.S. dollar, or should we wait and see how the market moves?
11.02.2025
- Williams (U.S.): Remarks by the President of the New York Fed
- Remarks by Bank of England Governor Bailey
In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen. The USD/JPY pair climbed from 151.190 to 152.533. The price rebounded from the -2σ line of the hourly Bollinger Bands toward the centerline. On the 4-hour chart, the RSI rebounded after falling to 27, while on the daily chart, the price recovered after breaking below the 200-day EMA support line. We will be watching closely to see if the dollar’s rebound continues during U.S. trading hours.
Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair climbed from 165.906 to 167.560. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price has rebounded from the -2σ level of the Bollinger Bands, and on the daily chart, the RSI has recovered from the oversold level of 30. We should watch closely to see if the Swiss franc continues its rebound during European trading hours.
Today’s schedule includes the Australian Westpac Consumer Confidence Index at 8:30, the Australian NAB Business Confidence Index at 9:30, remarks by a member of the Bank of England’s Monetary Policy Committee at 17:45, the U.S. NFIB Small Business Optimism Index at 20:00, remarks by Bank of England Governor Bailey at 21:15, Canadian Housing Starts at 22:30,22:50: US remarks by Hamack, President of the Cleveland Fed; 24:00: US testimony by Fed Chair Powell before Congress; 27:00: US 3-year Treasury auction; 29:30: US remarks by Fed Governor Bowman; and US remarks by Williams, President of the New York Fed.I’ll be watching the price action closely to see if these key speeches affect the strength of the U.S. dollar.
Author: Keisuke Sakurai
