All eyes are on whether the faltering U.S. dollar will rebound following remarks by key officials

All eyes are on whether the faltering U.S. dollar will rebound following remarks by key officials

17.11.2022

U.S. currencies held their ground against weaker European currencies the previous day, with the AUD/USD pair falling from 0.6791 to 0.6722.The AUD/USD pair had posted four consecutive bullish candles, but has recently pulled back as it approaches the 200-day EMA on the daily chart. With Oceania currencies continuing to weaken, we will be watching closely to see if the US dollar rebounds against the Australian dollar, starting with whether the price breaks below the 4-hour 20-day MA at 0.6738 with a real body candle.

Among European currencies, the euro emerged as the strongest, with the EUR/USD pair rising from 1.0331 to 1.0437. However, it retreated to 1.0355 after the rally and is currently trading just below the 20-period moving average at 1.0390 during today’s Asian session.On the 4-hour chart, the EUR/USD is forming lower highs, and on the daily chart, the RSI has reached 70 just below the 200-day SMA. We should remain cautious as the rally that has lasted for about two weeks may be showing signs of a temporary pause.

Today’s schedule includes: Switzerland’s trade balance at 4:00 PM, the Eurozone’s Consumer Price Index at 7:00 PM, remarks by UK MPC member Pill at 9:30 PM, remarks by U.S. St. Louis Fed President Bullard at 10:00 PM, U.S. initial jobless claims, housing starts, and building permits at 10:30 PM,U.S. Philadelphia Fed Business Outlook Index, at 11:15 PM U.S. Federal Reserve Governor Bowman’s remarks, at 11:30 PM UK MPC Member Tenreyro’s remarks, at 11:40 PM U.S. Mester:Cleveland Fed President’s remarks; at 00:30, U.S. weekly natural gas inventories; at 00:40, remarks by U.S. Fed Governor Jefferson; remarks by U.S. Minneapolis Fed President Kashkari; and at 01:00, remarks by the U.S. Kansas City Fed President are scheduled. We will closely monitor the direction of the market to see if the faltering U.S. dollar can rebound on the back of these key figures’ remarks.

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?