Be on the lookout for sudden price movements caused by remarks from key figures and the release of the FOMC minutes (U.S. time)

Be on the lookout for sudden price movements caused by remarks from key figures and the release of the FOMC minutes (U.S. time)

11.10.2023

In the U.S. currency market the previous day, a trend of yen selling and dollar selling emerged as geopolitical risks subsided, causing the euro/dollar pair to rise. Yesterday, the euro/dollar pair rose from 1.0554 to 1.0619, returning to the 20-day moving average (MA), which serves as the baseline. On the higher-timeframe weekly chart, it appears the pair is entering a rebound phase following a bullish candle with a lower wick, so I intend to closely monitor currency strength during U.S. trading hours.

Among European currencies, the pound emerged as the strongest toward the close of trading, with GBP/JPY rising from 181.526 to 182.771. GBP/JPY has continued to climb during today’s Asian session, reaching 182.871. With the UK Consumer Price Index set to be released again next week, we will need to carefully assess whether the pound will continue to strengthen against other currencies heading into the middle of next week.

Today’s schedule includes the German Consumer Price Index at 3:00 PM, Turkey’s Current Account Balance at 4:00 PM, Taiwan’s Trade Balance at 5:00 PM, remarks by Fed Governor Bowman at 5:15 PM, the U.S. MBA Mortgage Applications Index at 8:00 PM, Canadian Housing Starts at 9:30 PM,U.S. Producer Price Index, 11:15 PM U.S. time: Remarks by Fed Governor Waller, 1:00 AM: Russian Consumer Price Index, 1:15 AM: Remarks by Bostic, President of the Atlanta Fed, 2:00 AM: U.S. 10-year Treasury auction, 3:00 AM: Release of the FOMC minutes, 3:30 AM: Remarks by Collins,Boston Fed President. We must remain highly vigilant for sudden price movements caused by the overlapping remarks from key officials during U.S. trading hours and the release of the FOMC minutes.

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