Should we keep an eye on the direction of the U.S. dollar as it trades within a range?

Should we keep an eye on the direction of the U.S. dollar as it trades within a range?

24.05.2021

Last weekend, U.S. stock prices rose slightly, resulting in a market environment characterized by rising stocks, a flat U.S. dollar, and falling interest rates. Bonds were bought, and the yield on the 10-year U.S. Treasury note fell to 1.62%. Additionally, following last week’s trend, BTC fell over the weekend and is currently trading in the $38,000 range. Caution is warranted, as the price could continue to decline if it does not rebound from current levels.

In the foreign exchange market, the euro—which had been weakening over the weekend—is trading in a directionless range during today’s Asian session, with the EUR/JPY pair consolidating around the 132.6 level on the hourly chart, hovering around the 200-day moving average. The euro is also weakening against the Australian dollar, which has lost momentum today, with the EUR/AUD pair attempting to decline around the 1.576 level.

No major economic indicators or key speeches are scheduled for today in European trading hours. At 21:30, the U.S. Chicago Fed National Activity Index will be released; at 22:00, Fed Governor Brainard will speak; and at 23:30, the UK’sBank of England Governor Bailey, UK Deputy Governor Kanrif, UK MPC Member Holden, and UK MPC Member Sanders at 23:30, a speech by US Cleveland Fed President Mester at 24:00, and a speech by US Atlanta Fed President Bostic at 25:00.We will be closely monitoring today’s key speeches to see if they provide any direction for the US dollar and European currencies.

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