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Dollar Strengthens Ahead of Key Fed Events

By Markets Desk · 2026-09-19 · 1 min read
A stack of US dollar bills resting on a wooden desk next to a coffee cup
Illustration: Tradingbird

The US dollar climbed against major peers as traders positioned for August industrial data and Federal Reserve speeches.

The US dollar rose against most major currencies on Friday. Traders waited for August US industrial production data. The release was scheduled for 9:15 am ET. This data point is a key indicator of economic activity.

Federal Reserve officials spoke later in the day. Governor Michelle Bowman addressed the market at 9:30 am ET. Kansas City Fed President Jeffrey Schmid spoke at 11:45 am ET. These comments help shape expectations for interest rates.

Sterling Holds Gains After Retail Sales

The British pound remained stable. UK retail sales rebounded in August. This data provided a domestic support factor for GBP/USD. The pair traded with less volatility than USD pairs linked solely to US data.

US Data Drives FX Movements

Currency markets entered a wait-and-see mode. The schedule was heavy with US-specific events. Traders focused on how data would shift rate expectations. The goal was to anticipate the path of US interest rates.

USD CAD Exposes to US Risk

USD/CAD traded at 1.4008. Canada had no significant data releases that morning. The pair acted as a pure US dollar story. Scheduled US events likely caused larger intraday swings in this pair.

The lack of Canadian catalysts concentrated focus on US releases. Industrial production and Fed speeches drove the direction of the dollar. This dynamic differs from pairs with simultaneous domestic news in both countries.

Based on reporting by Finimize, compiled by the Tradingbird desk.

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