Will remarks by key figures affect the strength or weakness of the U.S. dollar? Should we wait and see how the market moves?
11.02.2025
- U.S. – Williams: Remarks by the President of the New York Fed
- Remarks by Bank of England Governor Bailey
In the U.S. currency market yesterday, the U.S. dollar rose against the yen. The USD/JPY pair rose 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 pair has recovered after breaking below the 200 EMA support line. We will be watching closely to see if the U.S. dollar’s rebound continues during U.S. trading hours.
Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair rose from 165.906 to 167.560. It moved from below the 20-period moving average on the hourly chart to above it.On the 4-hour chart, the pair 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 remain vigilant to see if the Swiss franc continues its rebound during European trading hours.
Today, the Westpac Consumer Confidence Index (Australia) is scheduled for 8:30, followed by theNAB Business Conditions Index at 9:30, remarks by a member of the UK’s MPC at 17:45, the U.S. NFIB Small Business Optimism Index at 20:00, remarks by UK BOE Governor Bailey at 21:15, Canadian Housing Starts at 22:30, remarks by U.S. Federal Reserve Bank of Cleveland President Hammack at 22:50,Cleveland Fed President’s remarks, at 24:00, Fed Chair Powell’s congressional testimony; at 27:00, a U.S. 3-year Treasury auction; at 29:30, Fed Governor Bowman’s remarks; and at 29:30, U.S. Fed Governor Williams’ remarks.I’d like to wait and see how these key figures’ remarks affect the strength of the U.S. dollar.
Author: Keisuke Sakurai
