All eyes are on whether the pound, which has faced resistance against the U.S. dollar, will stage a comeback during European trading hours.
14.01.2026
- U.S. Retail Sales
- U.S. Weekly Crude Oil Inventories
In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the December U.S. Consumer Price Index (CPI) released yesterday showed a year-over-year increase of 2.7%, unchanged from the previous month, and the core index—excluding food and energy—also remained unchanged at 2.6%.The USD/JPY pair rose from 157.901 to 159.188. An uptrend has emerged along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the price is rising steeply along the 10-period MA, and on the daily chart, the RSI has already reached the 70 line.
Among European currencies, the pound fell against the U.S. dollar. The GBP/USD pair dropped from 1.3494 to 1.3421. It fell from the +2σ to the -2σ of the hourly Bollinger Bands. On the 4-hour chart, the price has moved from above the 20-period moving average (MA) to below it, and the daily chart shows a similar price movement. However, as the pair has rebounded slightly during today’s Asian session, we will be watching to see how the pound performs during European trading hours.
Today’s economic indicators include: New Zealand housing construction permits at 6:45, Japan’s money supply at 8:50, Japan’s machine tool orders at 15:00, remarks by MPC member Taylor of the Bank of England at 18:15, U.S. MBA mortgage applications at 21:00, U.S. Producer Price Index, U.S. retail sales, and U.S. current account balance at 22:30,23:50: US – Remarks by Paulson, President of the Philadelphia Fed; 24:00: US – Business Inventories, US – Existing Home Sales, US – Remarks by Fed Governor Mian; 24:30: US – Weekly Crude Oil Inventories; 28:00: US – Beige Book (Regional Fed Economic Report).We will be watching closely to see if the pound, which has faced resistance against the US dollar, can stage a comeback during European trading hours.
Author: Keisuke Sakurai
