Should we wait and see where the U.S. dollar is headed following remarks by a key official?

Should we wait and see where the U.S. dollar is headed following remarks by a key official?

01.12.2022

In yesterday’s U.S. currency trading, the dollar became the weakest currency as the Dollar Index fell to 105.5. GBP/USD rose from 1.1900 to 1.2085.It has continued to rise during today’s Asian trading session. GBP/USD is positioned just below the 200-day SMA on the daily chart and, following yesterday’s rise, remains above the weekly 20-day MA. Similar to EUR/USD, GBP/USD saw a significant rally up to the monthly 10-day MA and closed November with a strong bullish candle, so it will be worth watching whether the price action at the start of the month continues its upward trend.

Among European currencies, the euro weakened against the stronger Oceania currencies, with the EUR/AUD pair falling from 1.5488 to 1.5309. Technically, the EUR/AUD pair has pulled back after being capped by the 200-period simple moving average (SMA) on the hourly chart, and as it is forming a lower low, we will be watching closely to see if the decline continues into the European session.

Today’s economic indicators include the UK Nationwide House Price Index, German Retail Sales, and Turkish Manufacturing PMI at 4:00 PM; the Swiss Consumer Price Index at 4:30 PM; the Swiss Manufacturing PMI at 5:30 PM; the UK Manufacturing PMI at 6:30 PM;at 9:30 PM: U.S. Challenger Layoff Announcements; at 10:30 PM: Canada’s Q3 Labor Productivity Index and U.S. Initial Jobless Claims; at 11:30 PM: Remarks by U.S. Federal Reserve Governor Bowman; at 12:00 AM: U.S. ISM Manufacturing PMI; and at 1:00 AM: Remarks by U.S. Federal Reserve Vice Chair Bar.We will monitor the direction of the US dollar, which is currently weakening due to remarks by key officials.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 15.04.2026

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 13.04.2026

   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. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 09.04.2026

   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. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?