Keep an eye on CPI results from various countries

Keep an eye on CPI results from various countries

18.05.2022

U.S. currencies traded weakly against European currencies yesterday, with the EUR/USD pair rising 130 pips from 1.042 to 1.056. Since the EUR/USD has retraced to around 1.056—the range level seen through last week—the direction of the market may become unclear going forward. For now, we plan to adopt a wait-and-see approach regarding the market’s direction, taking into account today’s economic data releases.

Among European currencies, the pound emerged as the strongest, with GBP/USD rising by more than 180 pips from 1.231 to 1.249. Since GBP/USD has firmly broken above the 200-period SMA on the hourly chart, we will be watching to see if it can surpass this month’s high of 1.263, while also taking into account its relative strength compared to other currencies.

Today’s schedule includes the UK Consumer Price Index and UK Retail Price Index at 15:00 CET, the Eurozone Consumer Price Index at 18:00 CET, and—once U.S. trading hours begin—the Canadian Consumer Price Index and Canadian House Price Index at 21:30 CET, along with U.S. Housing Starts and U.S. Building Permits at 21:30 CET, U.S. Weekly Crude Oil Inventories at 23:30 CET, and the U.S. 20-Year Treasury Auction at 02:00 CET.and at 05:00, remarks by Harker, President of the Federal Reserve Bank of Philadelphia. We will monitor consumer price indices across various countries to gauge currency strength and assess the direction of inflation trends.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 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

6. 15.04.2026

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

7. 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

8. 13.04.2026

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

9. 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?

10. 09.04.2026

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