All eyes are on whether the euro, which has been rising against the yen, will reverse course at today’s ECB meeting

All eyes are on whether the euro, which has been rising against the yen, will reverse course at today’s ECB meeting

18.12.2025

In yesterday’s U.S. currency trading, the U.S. dollar rose against the euro. The EUR/USD pair fell from 1.1757 to 1.1703. Price action remained within the range of the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, prices are hovering just below the 20-period MA as they search for direction, while on the daily chart, the upward trend at higher levels remains intact, with price action continuing to fluctuate around the 10-period MA.

Despite the German IFO Business Climate Index for November, released yesterday, falling to 87.6 from 88.1 the previous month, the euro rose against the yen.The EUR/JPY pair rose from 181.572 to 182.868. It surged from the -2σ to the +2σ levels on the hourly Bollinger Bands. On the 4-hour chart, the price has rebounded from below the 20-day moving average (MA) to above it, and on the daily chart, the upward trend continues as the 20-day MA provides support on the downside.

Today’s schedule includes New Zealand’s Q3 GDP at 6:45, Switzerland’s trade balance at 16:00, the Bank of England’s interest rate decision and statement at 21:00, the release of the Bank of England’s meeting minutes at 21:00, the ECB’s interest rate decision and statement at 22:15, U.S. initial jobless claims at 22:30,US Consumer Price Index, US Philadelphia Fed Manufacturing Index, at 10:45 PM: ECB President Lagarde’s press conference, at 12:30 AM: US weekly natural gas inventories, at 1:00 AM: US Kansas City Fed Manufacturing Activity Index, and at 3:00 AM: US 5-year inflation-linked bond auction.We will be watching closely to see if the euro, which has risen against the yen, will reverse course following today’s ECB meeting.

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