It remains to be seen whether the falling Dollar Index will recover

It remains to be seen whether the falling Dollar Index will recover

14.02.2023

In the U.S. currency market yesterday, the dollar fell as the Dollar Index, which had been rising, dropped to 103.1.The EUR/USD pair rebounded from this month’s low of 1.0655 to 1.0730, breaking above the 20-period moving average (MA) on the hourly chart. However, on the 4-hour chart, the 200-period simple moving average (SMA) and exponential moving average (EMA) have formed a death cross, and on the daily chart, the price remains below the 20-period MA while the RSI is trending downward. Therefore, we should remain cautious as to whether the euro’s rebound is merely temporary.

Among European currencies, the pound made significant gains against the U.S. dollar. The GBP/USD pair rose from 1.2031 to 1.2149, reaching the upper boundary of the range that had persisted for a week. On the daily chart, GBP/USD has been trading within a range between 1.1961 and 1.2434. With upward pressure currently building toward the upper boundary of this range, it will be worth watching to see if the upward trend continues.

Today’s schedule includes the UK unemployment rate at 4:00 PM, Swiss producer import prices at 4:30 PM, Eurozone Q4 GDP at 7:00 PM, the US NFIB Small Business Optimism Index at 8:00 PM, the US Consumer Price Index at 10:30 PM, remarks by US Richmond Fed President Barkin at 11:30 PM, and remarks by US Logan:Dallas Fed President remarks, 1:30 AM: US – Harker: Philadelphia Fed President remarks, 4:05 AM: US – Williams: NY Fed President remarks. Keep an eye on the economic data releases during US trading hours to see if the falling Dollar Index will recover.

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?