Will the U.S. CPI fall to 2.6% as expected? Market participants remain on guard against sharp price movements.

Will the U.S. CPI fall to 2.6% as expected? Market participants remain on guard against sharp price movements.

11.09.2024

In yesterday’s U.S. currency markets, the U.S. dollar weakened against the yen. The USD/JPY pair fell from 143.706 to 142.209. On the hourly chart, it dropped from the +2σ to the -2σ Bollinger Band. On the 4-hour chart, the pair fell just below the 20-period moving average, and on the daily chart, it pulled back after touching the 10-period moving average. We will monitor the situation closely to see if today’s U.S. CPI data triggers further weakness in the U.S. dollar.

European currencies saw the pound fluctuate against the U.S. dollar after yesterday’s release of the UK’s August employment statistics showed that the unemployment rate remained unchanged from the previous month’s 4.7%. The GBP/USD pair traded between 1.3048 and 1.3107, with price action straddling the 20-period moving average on the hourly chart.On the 4-hour chart, the 20-period moving average is acting as a resistance level, while on the daily chart, the RSI continues to decline after rising above 70.

Today’s economic indicators include remarks by NZ RBNZ Deputy Governor Silk at 6:05 a.m., South Korean employment statistics at 8:00 a.m., remarks by Australian RBA Deputy Governor Hunter at 9:20 a.m., the U.S. presidential candidate debate at 10:00 a.m., and at 3:00 p.m., UKIndustrial Production, UK Manufacturing Output, UK Trade Balance, UK GDP, at 8:00 PM: US MBA Mortgage Applications Index, at 9:00 PM: Mexico Industrial Production, at 9:30 PM: US Consumer Price Index, at 11:30 PM: US Weekly Crude Oil Inventories, and at 2:00 AM: US 10-Year Treasury Auction.We should be on guard for sharp price movements following the release, as we await whether the U.S. CPI will fall to 2.6% as expected by the market.

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