Should we be on high alert regarding the dollar’s price movements following the U.S. CPI release?

Should we be on high alert regarding the dollar’s price movements following the U.S. CPI release?

14.11.2023

In yesterday’s U.S. currency trading, the U.S. dollar plummeted against the yen at the close of the previous trading day. The USD/JPY pair rose from 1511.334 to 151.906. It then plummeted to 151.206, briefly dipping below the 75-period moving average (MA) on the hourly chart, but is currently trading around 151.718—just below the 20-period MA—during today’s Asian session.We need to remain vigilant regarding price movements, as we must watch for the possibility of sudden USD selling similar to yesterday’s.

European currencies rose against the yen as Germany’s September current account balance, released yesterday, improved to €28.1 billion from €16.6 billion the previous month.The EUR/JPY pair rose from 161.544 to 162.362. The gradual uptrend along the 20-period moving average (MA) on the hourly chart continued. On the daily chart, the upward trend from last month has carried over into this month, and the price is currently moving along the +2σ line of the daily Bollinger Bands. We will be watching closely to see if the euro extends its gains during European trading hours.

Today’s schedule includes the Indian Wholesale Price Index at 3:30 PM, the UK Employment Report and Sweden’s Consumer Price Index at 4:00 PM, Switzerland’s Producer Import Prices at 4:45 PM, remarks by SNB Governor Jordan at 4:45 PM, remarks by NY Fed President Williams at 5:00 PM, and at 7:00 PM, Germany’sZEW Economic Sentiment Index, Eurozone ZEW Economic Sentiment Index, and Eurozone Q3 GDP; at 7:30 PM, South Africa’s employment report; at 7:30 PM, remarks by U.S. Federal Reserve Vice Chair Jefferson; at 10:30 PM, the U.S. Consumer Price Index; and at midnight, remarks by U.S. Federal Reserve Vice Chair Barr.We will carefully assess price trends in the U.S. CPI.

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