All eyes are on whether the euro, which has risen against the yen, will reverse course at today’s ECB meeting
18.12.2025
- U.S. Consumer Price Index
- Bank of England Announces Policy Rate and Statement
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 fact that Germany’s November IFO Business Climate Index, released yesterday, fell to 87.6 from 88.1 the previous month, the euro rose against the yen.The euro/yen 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 uptrend continues as the price finds support at the 20-day MA.
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 minutes at 21:00, the ECB’s interest rate decision and statement at 22:15, U.S. initial jobless claims at 22:30,U.S. Consumer Price Index, and U.S. Philadelphia Fed Business Outlook Index; at 10:45 PM, the ECB’s President Lagarde will hold a press conference; at 12:30 AM, U.S. weekly natural gas inventories will be released; at 1:00 AM, the U.S. Kansas City Fed Manufacturing Activity Index will be released; and at 3:00 AM, there will be an auction for U.S. 5-year inflation-indexed bonds.We will be watching closely to see if the euro, which has risen against the yen, will reverse course following today’s ECB meeting.
Author: Keisuke Sakurai
