All eyes are on whether the U.S. dollar’s runaway rally will gain further momentum over the weekend
19.08.2022
- Wholesale and Retail Sales
- U.S. - Barkin: Remarks by the President of the Richmond Federal Reserve Bank
The U.S. dollar rose sharply yesterday, with USD/JPY climbing approximately 130 pips from 134.643 to 135.908.The USD/JPY pair has continued to rise during today’s Asian session, breaking through the key 136-yen level and climbing as high as 136.372. Since the USD/JPY has formed a double bottom on the daily chart and the right-hand low is rising, we will be watching to see if it can maintain this upward momentum and break above the recent high of 137.342.
European currencies, including both the pound and the euro, were the weakest performers, with the euro/dollar pair falling 110 pips from 1.0191 to 1.0079. The euro/dollar pair has broken decisively below the lower boundary of its upward channel, and price action suggests a return to a downward trend. We need to remain vigilant to see if it will continue testing lower levels toward this year’s low.
Today, at 3:00 PM Asia time, UK retail sales and German producer price index will be released; at 5:00 PM Europe time, Philippine industrial production and producer price index will be released; at 6:00 PM, the Eurozone current account balance will be released;at 8:00 PM, Mexico’s retail sales; at 8:30 PM, India’s foreign exchange reserves; at 9:30 PM during U.S. trading hours, Canada’s retail sales; and at 10:00 PM, remarks by Barkin, President of the Richmond Federal Reserve Bank. We will be watching closely to see if the U.S. dollar’s runaway strength accelerates heading into the weekend.
Past Market Reports
22.04.2026
Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?
21.04.2026
With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall
20.04.2026
Will the market wait and see how much further the U.S. dollar can rise against the yen?
17.04.2026
Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.
16.04.2026
Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar
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?
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
13.04.2026
Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?
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?
09.04.2026
Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?
