Market participants may be wary of the U.S. dollar's sluggish upward momentum

Market participants may be wary of the U.S. dollar's sluggish upward momentum

17.02.2022

In the previous session, the U.S. dollar index fell slightly to 95.7, and the USD/JPY pair edged lower as concerns over the escalating situation in Ukraine remained unresolved.It retreated from 115.77 to 115.33. However, USD/JPY has held firm in the 115-yen range and is finding support at the 75-period moving average on the 4-hour chart, so we should pay close attention to comments from key officials during U.S. trading hours today.

Among European currencies, the pound rose against the U.S. dollar while the euro and pound remained in a tight race. The GBP/USD pair saw a modest gain of 60 pips, rising from 1.353 to 1.360. With the recent high of 1.361 acting as resistance, the focus will be on whether the pair can break above this resistance zone with a solid candle. We should also keep an eye on today’s ECB monthly report.

Today, at 4:00 PM, Switzerland’s trade balance; at 6:00 PM, the ECB’s monthly report; at 8:00 PM, Turkey’s TCMB policy rate and statement;at 10:30 PM: Canada’s House Price Index and International Securities Turnover; U.S. Initial Jobless Claims, Housing Starts, and the Philadelphia Fed Business Outlook Index; at 1:00 AM: U.S. Weekly Natural Gas Inventories and remarks by U.S. Federal Reserve Bank of St. Louis President Bullard; and at 7:00 AM the following day: remarks by U.S. Federal Reserve Bank of Cleveland President Mester.We will be closely monitoring whether the weakening U.S. dollar recovers in response to today’s key speeches.

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