With the CPI coming in higher than expected, investors should keep an eye on the pound’s performance against the U.S. dollar

With the CPI coming in higher than expected, investors should keep an eye on the pound’s performance against the U.S. dollar

15.08.2024

In the previous day’s U.S. currency trading, the Canadian dollar strengthened against Oceania currencies. The AUD/CAD pair fell from 0.9105 to 0.9035, marking a pullback from this month’s high.On the 4-hour chart, the pair has pulled back from the 200-day SMA, and on the daily chart, it failed to break above the 20-day MA and was pushed back. We will need to watch price action during U.S. trading hours to see if the Canadian dollar continues to strengthen against the Australian dollar.

European currencies saw the pound weaken against the U.S. dollar despite yesterday’s release of the UK’s July Consumer Price Index, which rose to 2.2% year-on-year from 2.0% the previous month. The GBP/USD pair fell from 1.2868 to 1.2815. On the hourly chart, the price has moved from above the 20-period moving average to below it.On the 4-hour chart, the price has pulled back from the +3σ line of the Bollinger Bands, and on the daily chart, the RSI has declined from 54 to 51.

Today’s schedule includes Japan’s real GDP at 8:50, China’s new home sales prices and Australia’s employment data at 10:30, China’s industrial production and retail sales at 11:00, and the UK’sIndustrial Production, at 3:30 PM: Switzerland’s Trade Balance, at 9:30 PM: Canada’s Wholesale Sales, U.S. Initial Jobless Claims, U.S. Retail Sales, U.S. Import Price Index, and U.S. Philadelphia Fed Manufacturing Index, and at 11:00 PM: U.S. NAHB Housing Price Index and U.S. Business Inventories.We will closely monitor the pound’s movements, which have weakened against the US dollar despite the CPI coming in higher than expected.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 07.04.2026

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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed