Should we be wary of the upward trend in the U.S. dollar?

Should we be wary of the upward trend in the U.S. dollar?

13.07.2021

Yesterday, the three major U.S. stock indices all rose, hitting new record highs. The Nasdaq closed at 14,733 points, up 0.21% from the previous day, while the S&P 500 finished at 3,484 points, up 0.35%. The Russell 2000 also edged higher, closing at 2,281.

In the foreign exchange market, the Dollar Index has fallen to 92.1, weighing on the US dollar’s upside. Although the euro/dollar pair fell during yesterday’s European trading session, it has since recovered and is currently trading around 1.185. On a daily chart, the pair has been trading sideways between 1.17 and 1.225, and we will monitor the situation closely, considering the direction of the US dollar, to see if it will continue to rise.

Today, during Asian trading hours, the German Consumer Price Index (final reading) will be released at 15:00, followed by Swiss Producer Import Prices at 15:30 and the French Consumer Price Index (final reading) at 15:45.during European trading hours at 16:00, Turkey’s Industrial Production Index; during U.S. trading hours at 21:30, the U.S. Consumer Price Index; and at 25:00, remarks by Bostic, President of the Atlanta Fed; Kashkari, President of the Minneapolis Fed; and Rosengren, President of the Boston Fed.We will be closely monitoring today’s economic releases to see if they provide a clear direction for the U.S. dollar.

Past Market Reports

1. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 15.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 14.04.2026

   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

7. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 10.04.2026

   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?

9. 09.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran