Will the rising U.S. dollar react to comments from key figures, or will the market remain on the sidelines?

Will the rising U.S. dollar react to comments from key figures, or will the market remain on the sidelines?

16.04.2025

In the U.S. currency market yesterday, the U.S. dollar rose against the euro after the April New York Fed Manufacturing Index, released yesterday, improved to -8.1 from -20.0 the previous month.The EUR/USD pair fell from 1.1378 to 1.1264. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price has pulled back from the +2σ line of the Bollinger Bands, and on the daily chart, a corrective decline is observed following three consecutive days of gains.

Among European currencies, the Swiss franc was the weakest toward the end of U.S. trading hours. The CHF/JPY pair fell from 175.781 to 173.685. It dropped from the +2σ to the -2σ levels on the hourly Bollinger Bands. On the 4-hour chart, it temporarily broke below the 20-day moving average, which had been providing support, and on the daily chart, the RSI has pulled back from 74. We will closely monitor whether the Swiss franc continues to weaken during today’s European trading session.

Today’s schedule includes Japan’s machinery orders at 8:50, Australia’s Westpac Leading Economic Index at 9:30, the UK’s Consumer Price Index and Retail Price Index at 15:00, the Eurozone’s current account balance at 17:00,at 6:00 PM: Eurozone CPI, at 8:00 PM: US MBA Mortgage Applications Index and South African Retail Sales, at 9:30 PM: US Retail Sales, at 10:15 PM: US Industrial Production, at 10:45 PM: Canada’s BOC Policy Rate and Statement, at 11:00 PM: US Business Inventories,U.S. NAHB Housing Market Index, 11:30 PM: Canada – BOC Governor Macklem press conference, U.S. weekly crude oil inventories, and 2:30 AM: U.S. Fed Chair Powell remarks. I want to closely monitor the market direction to see if the rising U.S. dollar will shift in response to these key figures’ remarks.

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