All eyes are on whether the University of Michigan Consumer Sentiment Index will exceed the market forecast of 56.8

All eyes are on whether the University of Michigan Consumer Sentiment Index will exceed the market forecast of 56.8

09.12.2022

In yesterday’s U.S. trading session, the U.S. dollar lost momentum toward the end of the session, despite the fact that the number of new U.S. unemployment insurance claims, released yesterday, improved from the previous week to 225,000. The EUR/USD pair rose from 1.0489 to 1.0564. The EUR/USD pair has continued to climb during today’s Asian session, reaching 1.0584.We will be closely watching to see if the US dollar weakens following today’s release of the University of Michigan Consumer Sentiment Index during US trading hours.

European currencies saw the pound fall against the Australian dollar following the release yesterday of the UK’s November RICS House Price Index, which deteriorated sharply from the previous reading of -2.0% to -25.0%. The GBP/AUD pair fell from 1.8156 to 1.8043.The decline halted as the price found support at the 200-period EMA on the hourly chart. However, on the higher timeframe (daily chart), this represents a technical correction within an overall uptrend, so it will be worth watching to see if the price rebounds again near the 10-period MA at 1.8014.

Today, the following releases are scheduled: Norway’s Consumer Price Index and Producer Price Index at 4:00 p.m. CET; India’s foreign exchange reserves at 8:30 p.m. CET; Canada’s third-quarter capacity utilization rate and the U.S. Producer Price Index at 10:30 p.m. EST; the University of Michigan Consumer Sentiment Index and U.S. wholesale inventories at midnight EST; and Russia’s Consumer Price Index at 1:00 a.m. EST.We will be closely monitoring whether the University of Michigan Consumer Sentiment Index exceeds the market forecast of 56.8.

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?