Will the U.S. dollar, which has been firm in U.S. trading hours, shift course due to remarks by key officials? Watch for developments.

Will the U.S. dollar, which has been strengthening in U.S. trading hours, shift course due to remarks by key officials? Watch for developments.

15.05.2025

In the previous day’s U.S. currency trading, the U.S. dollar showed strength against the Japanese yen, second only to the yen during U.S. trading hours. The euro fell against the dollar from 1.1264 to 1.1164.A pullback occurred upon touching the 200-period SMA on the hourly chart. On the 4-hour chart, the 75-period MA is acting as a resistance zone, and the pair is searching for direction just below the 200-period SMA. On the daily chart, the price has already broken below the 20-period MA, which had previously served as support. We will be watching closely to see if the U.S. dollar continues to strengthen against the euro.

European currencies fell against the yen after Germany’s April Harmonized Index of Consumer Prices (HICP), released yesterday, remained unchanged from the previous month at 2.2% year-over-year.After hitting a new high for the month, the euro/yen pair fell from 165.162 to 163.738. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, candlesticks have fallen from the +2σ to the -2σ levels of the Bollinger Bands, and on the daily chart, the RSI has dropped to 53.

Today’s schedule includes Japan’s foreign and domestic securities investment data at 8:50, Australia’s employment statistics at 10:30, the UK’s real GDP, industrial production, manufacturing output, and trade balance at 15:00, the Eurozone’s real GDP at 18:00,at 9:15 PM, Canadian housing starts; at 9:30 PM, U.S. initial jobless claims, Canadian manufacturing sales, U.S. Producer Price Index, and U.S. New York Fed Manufacturing Survey; at 9:40 PM, remarks by Fed Chair Powell; at 10:15 PM, U.S.Industrial Production at 22:15, and U.S. Business Inventories and the NAHB Housing Market Index at 23:00. We’ll be watching closely to see if the U.S. dollar, which has been firming in U.S. trading hours, shifts direction in response to remarks from key officials.