Will the U.S. dollar, which has been rising slightly, continue its upward trend, or should we wait and see?

Will the U.S. dollar, which has been rising slightly, continue its upward trend, or should we wait and see?

07.12.2022

In the previous day’s U.S. currency trading, the Dollar Index rose slightly to 105.5, while GBP/USD fell by approximately 140 pips from 1.2226 to 1.2127.During today’s Asian session, the pair has been trading around 1.2139, seeking direction while finding support at the 200-period SMA on the hourly chart. However, on the daily chart, the uptrend continues with support at the 10-period MA, and since the price has broken above the 200-period SMA with a real body, we will be watching to see if the upward movement continues.

European currencies fell against the U.S. dollar despite yesterday’s release showing that Germany’s new manufacturing orders for October rose 0.8% month-on-month, exceeding market expectations of 0.2%.The EUR/USD pair fell by approximately 70 pips from 1.0531 to 1.0458. On the daily chart, the pair has been in a pullback phase since breaking above the 200-day SMA. However, on the weekly chart, the RSI has not yet reached 70 and the reversal trend continues, so we will be watching closely to see if an uptrend follows this pullback.

Today, at 15:45 Asia time, the Swiss unemployment rate will be released; at 16:00 European time, the UK Halifax house price index and German industrial production will be released; at 16:45, the French trade balance and current account balance will be released; at 19:00, the Eurozone Q3 GDP (final reading) will be released;at 21:00, the U.S. MBA Mortgage Applications Index; at 22:30 U.S. time, U.S. Q3 Nonfarm Productivity; at 24:00, the Bank of Canada’s policy rate and statement; at 24:30, U.S. weekly crude oil inventories; and at 29:00, U.S. consumer credit balances. We will be watching carefully to see if the U.S. dollar, which has been rising slightly, will continue its upward trend.

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. 15.04.2026New

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

6. 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?