Keep an eye on currency strength ahead of the FOMC meeting

Keep an eye on currency strength ahead of the FOMC meeting

15.06.2022

U.S. currencies rose yesterday on the back of a firm dollar index, with GBP/USD falling approximately 270 pips from 1.2209 to 1.1931. The UK employment data released yesterday showed the unemployment rate (ILO standard) worsening to 3.8%. The combination of the pound’s decline and the dollar’s rise led to a sharp drop.During today’s Asian session, the pair has been falling with the 20-period moving average acting as resistance, so we should remain cautious of further downside.

Among European currencies, the euro held its ground against the U.S. dollar. While the GBP/USD pair fell nearly 300 pips, the EUR/USD traded within a range of 80 pips between a low of 1.0396 and a high of 1.0485, moving back and forth. Since the EUR/USD has held above the 1.0396 level on the 4-hour chart, we will be watching closely to see if it rebounds following today’s FOMC announcement.

Today, at 3:30 PM, Swiss producer import prices; at 3:45 PM, French consumer price index (final reading); at 4:00 PM, Turkish housing prices; at 6:00 PM, EurozoneEurozone Industrial Production and Trade Balance, at 6:15 PM: Remarks by Nagel, President of the German Bundesbank, at 8:00 PM: U.S. MBA Mortgage Applications Index, at 9:30 PM: U.S. Retail Sales,US: NY Fed Manufacturing Index at 10:00 PM, Canada: Existing Home Sales at 11:30 PM, US: Weekly Crude Oil Inventories at 1:20 AM, Eurozone: ECB President Lagarde’s remarks at 3:00 AM, US: FOMC policy rate decision and statement at 3:30 AM, and US: Fed Chair Powell’s press conference at 3:30 AM.We should pay close attention to the results of the FOMC meeting, which will be announced in the early morning.

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?