Will the market wait and see where the U.S. dollar heads following Fed Chair Powell’s remarks?

Will the market wait and see where the U.S. dollar heads following Fed Chair Powell’s remarks?

15.11.2024

In the previous day’s U.S. currency markets, the dollar rose against the yen after Federal Reserve Chair Powell stated that “the economy is not signaling a need to accelerate the pace of rate cuts,” emphasizing that the economy is moving toward the 2% inflation target while noting that the Fed can exercise caution in determining the pace of rate cuts. The USD/JPY exchange rate rose from 155.321 to 156.416, marking the fourth consecutive day of yen weakness and dollar strength.

Despite the fact that the EU’s September industrial production, released yesterday, fell to -2.8% year-on-year from 0.1% the previous month, the euro rose against the yen.The EUR/JPY pair rose from 163.805 to 164.979. It has crossed above the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is rising with support from the 200-period simple moving average (SMA), and on the daily chart, it is currently attempting to break through the resistance line formed by the 200-period SMA.

Today’s schedule includes UK Q3 GDP, UK industrial production, and UK manufacturing output at 4:00 PM; the Swiss Producer Price Index at 4:30 PM; the French Consumer Price Index at 4:45 PM; and Canadian wholesale sales and U.S. retail sales at 10:30 PM,the US NY Fed Manufacturing Index, at 11:00 PM: Canadian existing home sales and remarks by US Federal Reserve Bank of Boston President Collins, at 11:15 PM: US industrial production and US capacity utilization, at 12:00 AM: US business inventories, and at 3:15 AM: remarks by US Federal Reserve Bank of New York President Williams.We will carefully assess the direction of the U.S. dollar, which rose following remarks by Fed Chair Powell.

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