Will the U.S. dollar rise as the Dollar Index recovers to 102?

Will the U.S. dollar rise as the Dollar Index recovers to 102?

07.06.2022

In yesterday’s U.S. trading session, the Dollar Index recovered to 102.6, while the EUR/USD pair fell by approximately 80 pips from 1.075 to 1.067. From a technical perspective, the EUR/USD is forming a head-and-shoulders pattern on the 4-hour chart and is currently capped by the 75-day moving average on the daily chart. If the U.S. dollar strengthens following today’s economic data releases during U.S. trading hours, we should be on guard for further declines.

European currencies remained in a stalemate against the modestly rising Oceania currencies, with the EUR/AUD pair trading in a range between 1.481 and 1.491. On the daily chart, the pair is entering a consolidation phase characterized by lower highs and higher lows, leading to a wait-and-see sentiment ahead of the ECB’s policy rate announcement scheduled for the day after tomorrow.

Today’s schedule includes German manufacturing orders and UK Halifax house prices at 15:00 CET, the UK services PMI at 17:30, and South Africa’s Q1 GDP at 18:30; followed by the Canadian trade balance and U.S. trade balance at 21:30 EST,at 11:00 PM, Canada’s Ivey PMI, at 2:00 AM, the U.S. 3-year Treasury auction, and at 4:00 AM, U.S. consumer credit balances. We need to carefully assess whether the momentum of the rising U.S. dollar will continue.

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?