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Will the market wait and see how the euro reacts to the ECB’s policy rate announcement?

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Will the market wait and see how the euro reacts to the ECB’s policy rate announcement?

17.04.2025

Today's Highlights
  1. Europe: ECB Policy Rate and Statement Release
  2. Australian Employment Statistics

In the U.S. currency market the previous day, the Canadian dollar fluctuated briefly immediately after the Bank of Canada (BOC) announced its policy rate decision yesterday, in which the rate was held steady at 2.75%. The CAD/JPY pair traded between 102.025 and 102.909, with price action straddling the 20-period moving average on the hourly chart.Bank of Canada Governor Maclean addressed the impact of U.S. tariff measures during a press conference. He stated that “our ability to take a more forward-looking approach than usual is limited,” while emphasizing that the bank is prepared to take appropriate action as needed.

Among European currencies, the euro rose against the U.S. dollar ahead of today’s ECB policy rate announcement.The euro rose against the U.S. dollar from 1.1278 to 1.1411. The rise followed the 20-period moving average (MA) on the hourly chart. Although the pair has not reached a new high on the 4-hour chart, it rebounded after touching the 20-period MA, and on the daily chart, a “band walk” is observed along the +2σ line of the Bollinger Bands.

Today’s schedule includes the New Zealand Consumer Price Index at 7:45, Japan’s customs-based trade balance at 8:50, Japan’s foreign/inward securities investment at 8:50, the Australian employment report at 10:30, the German Producer Price Index at 15:00, the ECB policy rate decision and statement at 21:15, U.S. initial jobless claims and Canadian international securities turnover at 21:30,U.S. housing starts, U.S. Philadelphia Fed Business Outlook Index; at 21:45, a press conference by ECB President Lagarde; at 23:30, U.S. weekly natural gas inventories; and at 24:45, remarks by Fed Governor Barr.We intend to carefully monitor the euro’s price movements following the ECB’s policy rate announcement.

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.

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