Will the weakening U.S. dollar rebound? All eyes are on price movements at the start of the week.

Will the weakening U.S. dollar rebound? All eyes are on price movements at the start of the week.

21.10.2024

Last weekend, the U.S. dollar weakened against the yen after the U.S. September housing starts data, released on the 18th, showed a decline from 1.356 million units in the previous month to 1.354 million units. The USD/JPY pair fell from 150.278 to 149.363, breaking below the 75-period moving average (MA) on the hourly chart.On the 4-hour chart, the price has broken below the 20-MA from above, and on the daily chart, it has rebounded from the 50% Fibonacci retracement level starting from July 1 of this year.

European currencies rose as the pound strengthened against the U.S. dollar following the release of UK retail sales data for September on the 18th, which showed a year-on-year increase of 3.9%, up from 2.5% the previous month.GBP/USD rose from 1.2298 to 1.3070, rebounding to just below the 200-period EMA on the hourly chart. On the 4-hour chart, the price has moved from below the 20-period MA to above it, and on the daily chart, the RSI has risen from 36 to 42.

Today’s schedule includes the UK Rightmove House Price Index at 8:01, China’s Prime Lending Rate at 10:00, Germany’s Producer Price Index at 15:00, the Philippines’ Industrial Production at 17:00, and at 21:15, U.S. Logan:Dallas Fed President Logan’s remarks at 9:00 PM, the US Leading Economic Index at 11:00 PM, Turkey’s central government debt at 11:30 PM, the US 6-month Treasury bill auction at 12:30 AM, and US Minneapolis Fed President Kashkari’s remarks at 2:00 AM. We will be watching the market movements at the start of the week to see if the weakening US dollar will rebound.

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