All eyes are on whether currency strength will shift significantly on the final day of the weekend
11.11.2022
- University of Michigan Consumer Sentiment Index
- UK Trade Balance
In the previous session, the U.S. dollar plummeted after the U.S. CPI came in at 7.7% year-over-year, falling short of market expectations. The EUR/USD pair rose by approximately 280 pips from 0.9935 to 1.0221. It hit a new high for the month and broke well above the 20-day moving average on the daily chart.Since the EUR/USD pair has risen above its recent high on the daily chart as well, we will be watching closely to see if the euro’s strength continues on the final day of the week.
Among European currencies, the pound emerged as the strongest, with GBP/USD rising 370 pips from 1.1362 to 1.1731. Following yesterday’s rally, GBP/USD broke above the 75-day moving average (MA) with a bullish candle, confirming the continuation of the uptrend. It will be interesting to see if the pair continues to rise, albeit with some consolidation along the way.
Today, at 4:00 PM, UK Q3 GDP, UK industrial production, UK manufacturing output, UK goods trade balance, UK trade balance, German CPI, Turkish industrial production, and Turkish current account balance will be released;at 8:00 PM, remarks by UK MPC member Haskell; at 9:45 PM, remarks by SNB Governor Jordan; at 10:10 PM, remarks by UK MPC member Tenreiro; at midnight, the University of Michigan Consumer Sentiment Index; and at 2:30 AM, remarks by Bundesbank President Nagel.I want to carefully assess the direction of the market to see if there will be significant shifts in currency strength on this final day of the weekend.
Author: Keisuke Sakurai
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Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.
16.04.2026
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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?
