Will the stalemate between Western currencies come to an end?

Will the stalemate between Western currencies come to an end?

16.09.2021

Yesterday, the three major U.S. stock indices all rose, creating a risk-on sentiment characterized by higher stock prices, higher interest rates, and higher oil prices. Energy-related stocks stood out in particular, rising in tandem with the increase in crude oil prices. Bank stocks also showed an upward trend. Meanwhile, WTI crude oil has recovered to $72.50. Gold fell again and is trading in the $1,791 range.

In the foreign exchange market, the euro and the U.S. dollar are locked in a tight battle, with the EUR/USD pair trading within a narrow range of 1.179 to 1.183, fluctuating up and down without a clear direction. Although the hourly chart shows lower highs, the lows are also rising slightly, so this is a phase where we should watch for the possibility of a technical pennant formation.

Today’s economic indicators include the Eurozone trade balance at 6:00 PM, Turkey’s housing price index at 8:30 PM, Canada’s housing starts at 9:15 PM, Canada’s wholesale sales, U.S. initial jobless claims, U.S. retail sales, and the U.S. Philadelphia Fed Business Outlook Index at 9:30 PM, U.S. business inventories at 11:00 PM,23:30: US Weekly Natural Gas Inventories, and 29:00: US Foreign Investment in US Securities. We should pay close attention to the relative strength of the US dollar and European currencies and carefully monitor price movements.

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