All eyes are on whether the US dollar will remain strong following the release of economic indicators in the US

All eyes are on whether the US dollar will remain strong following the release of economic indicators in the US

19.07.2023

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen after the U.S. June industrial production figure, released yesterday, came in at -0.5%, worse than the previous month’s -0.2%.The USD/JPY pair fell from 138.921 to 137.667, briefly dipping below the key 138-yen level. However, during today’s Asian trading session, the U.S. dollar has emerged as the strongest currency, with the USD/JPY pair rising to 139.418. We will be watching closely to see if the dollar continues to rise into the European session.

European currencies traded sideways against the U.S. dollar, with the euro holding steady ahead of today’s European CPI release. The EUR/USD pair traded in a range between 1.1209 and 1.1274, lacking direction, and remained flat for the third consecutive day.From a technical perspective, while the daily RSI for EUR/USD remains above the overbought threshold of 70, the 20-period moving average (MA) on the 4-hour chart continues to act as a support level. We will be watching to see if the pair remains supported by the 4-hour 20-MA and continues to trade in the upper price range.

Today, at 3:00 PM: UK Consumer Price Index, UK Producer Price Index, UK Retail Price Index; at 5:00 PM: South Africa Consumer Price Index; at 6:00 PM: Eurozone Consumer Price Index; at 8:00 PM: South Africa Retail Sales;the US MBA Mortgage Applications Index, US Housing Starts and Building Permits at 9:30 PM, US Weekly Crude Oil Inventories at 11:30 PM, remarks by UK BOE Deputy Governor Ramsden at 1:00 AM, and a US 20-year Treasury auction at 2:00 AM. We will be watching to see if the US dollar remains strong following these US-time economic releases.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran