All eyes are on whether the U.S. dollar, which has been struggling to gain ground following the release of the FOMC minutes, will recover

All eyes are on whether the U.S. dollar, which has been struggling to gain ground following the release of the FOMC minutes, will recover

24.11.2022

In the U.S. currency market yesterday, the dollar’s upside was capped and the currency weakened as the minutes from the FOMC meeting released yesterday were perceived as dovish. The EUR/USD pair rose by about 150 pips and broke above the daily 200-day SMA, but since the daily RSI has already reached 70, we will be watching closely to see if a divergence occurs and triggers a decline.

Among European currencies, the pound has risen significantly, with GBP/USD climbing more than 200 pips from 1.1869 to 1.2082. During today’s Asian trading session, the pair is trading just below the daily 200-day EMA, and with the daily RSI turning upward in a reversal pattern, we need to carefully assess whether it will continue to rise from the current price of 1.2087.

Today’s schedule includes the Turkish Economic Sentiment Index and Turkish Capacity Utilization Rate at 4:00 PM CET, the German IFO Business Climate Index at 6:00 PM CET, remarks by Ramsden, Deputy Governor of the Bank of England, at 6:45 PM CET, remarks by Pill, MPC member, at 7:30 PM CET, and theCBI Business Survey, the Turkish Central Bank’s (TCMB) policy rate and statement at 18:30, the release of the ECB meeting minutes at 21:30, remarks by MPC member Mann at 22:45 (U.S. time), and remarks by Bundesbank President Nagel at 01:00. We will be watching closely to see if the U.S. dollar, which has been weighed down following the release of the FOMC minutes, will recover.

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?