All eyes are on whether the euro, which rebounded against the Oceania currencies, will continue to rise
08.05.2025
- Bank of England Announces Policy Rate and Statement
- Rice · Wholesale Inventory
In the U.S. currency market yesterday, the Federal Open Market Committee (FOMC) kept interest rates unchanged and stated that "the economy continues to expand at a solid pace," causing the U.S. dollar to reach its strongest levels around the time of the announcement.The EUR/USD pair fell back from 1.1378 to 1.1293. On the hourly chart, it has shifted from an uptrend to a downtrend just below the 20-period moving average (MA). On the 4-hour chart, the candlesticks have fallen from the +2σ to the -2σ levels of the Bollinger Bands, and on the daily chart, the pair is currently attempting to break below the support provided by the 20-period MA.
Among European currencies, the euro rebounded against the Australian dollar. The EUR/AUD pair rose from 1.7386 to 1.7621. On the hourly chart, the price moved from the -3σ to the +2σ Bollinger Band. On the 4-hour chart, the price rebounded from just below the 20-period moving average, and on the daily chart, the price reversed after finding support at the upper end of the 75-period moving average.
Today, the UK RICS House Price Index will be released at 8:01, the minutes of the BOJ meeting at 8:50, German industrial production and the German trade balance at 15:00, the BOE interest rate decision and statement at 20:00, and South African manufacturing output ata press conference by UK BOE Governor Bailey at 8:30 PM, US Initial Jobless Claims and US Nonfarm Productivity at 9:30 PM, US Wholesale Inventories at 11:00 PM, remarks by Canadian BOC Governor McClem at midnight, and a US 30-year Treasury auction at 2:00 AM.We will be watching to see if the euro, which rebounded against the Oceania currencies, will continue to rise.
Author: Keisuke Sakurai
