All eyes are on whether the release of the FOMC minutes will cause any changes in the U.S. dollar’s price movements

All eyes are on whether the release of the FOMC minutes will cause any changes in the U.S. dollar’s price movements

21.11.2023

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen after the U.S. October Leading Economic Index, released yesterday, deteriorated to -0.8% from -0.7% the previous month. The USD/JPY pair fell by approximately 1.8 yen, from 149.979 to 148.104.This marked the third consecutive day of declines. Furthermore, the pair has continued to test lower levels during today’s Asian session, falling just below the daily 75-day moving average, so caution is warranted regarding further downside during U.S. trading hours.

European currencies rose against the U.S. dollar despite the fact that the Eurozone’s September construction output, released yesterday, deteriorated year-on-year from a 0.1% decline in the previous month to a 0.3% decline. The euro rose against the U.S. dollar from 1.0664 to 1.0895.It has continued to climb, hitting new highs during today’s Asian trading session. Since the daily chart shows three consecutive days of gains, attention will focus on whether the release of the FOMC minutes during today’s U.S. trading session will bring about any changes.

Today, at 4:00 PM, UK public sector net debt and Swiss trade balance; at 5:30 PM, Hong Kong CPI; at 6:00 PM, Philippine industrial production and PPI; at 7:00 PM, South African business confidence index; at 10:00 PM, Hungarian central bank policy rate;at 10:30 PM, Canada’s Consumer Price Index and the U.S. Chicago Fed National Activity Index; at 12:00 AM, U.S. Existing Home Sales; at 1:00 AM, remarks by ECB President Lagarde; and at 4:00 AM, the release of the U.S. FOMC minutes. We will be closely monitoring whether the release of the U.S. FOMC minutes causes any changes in the movement of the U.S. dollar.

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