Today’s forex market recap for Wednesday 14 October 2026: the 🇺🇸 US Dollar Index (DXY) touched a fresh 18-month high around 103.00 after a hotter than expected US inflation report, the 🇪🇺🇺🇸 EUR/USD exchange rate slid to an 18-month low near 1.1150, and 🇺🇸🇯🇵 USD/JPY was rejected at the 159.00 barrier. Below you will find what moved currency trading today, the EUR/USD technical levels cited in the day’s coverage, and the forex economic calendar with the high-impact events ahead. The Forex Expresso is published every Tuesday to Saturday after the New York session.

Forex Market Today: Hot US CPI Sends the Dollar to an 18-Month High

The September US inflation report dominated the forex market. The Bureau of Labor Statistics reported that consumer prices rose 0.6 percent on the month, lifting the annual rate to 3.7 percent against the 3.6 percent economists had expected, while core CPI rose 0.3 percent on the month, above the 0.2 percent forecast, for an annual core rate of 2.6 percent. The dollar jumped on the release: the US Dollar Index touched about 103.00, a level not seen since April 2025, according to FXStreet, before giving back part of the gain late in the session as Reuters reported that investors weighed a patient Federal Reserve.

The euro took the hit. 🇪🇺🇺🇸 EUR/USD fell to an 18-month low, ending the New York session near 1.1150 according to Reuters data, as US Treasury yields climbed to levels last seen in 2002, with the 10-year around 5.28 percent. Rate expectations moved sharply: market pricing for a Fed hike at the October 27-28 meeting jumped to roughly 50 percent after the data, as reported by Reuters, and New York Fed President John Williams said he sees one more rate increase as appropriate this year, according to Bloomberg. Other officials pushed the other way, with Vice Chair for Supervision Michelle Bowman saying the central bank can wait and assess after its September hike.

Elsewhere among the majors, 🇺🇸🇯🇵 USD/JPY rose toward the 159.00 barrier and was rejected there, according to FXStreet, while 🇬🇧🇺🇸 GBP/USD slipped to a 13-month low near 1.32, as reported by Reuters. Gold, the mirror of dollar strength, pulled back about 1.7 percent to near 4,100 dollars an ounce after its recent run.

EUR/USD, DXY and USD/JPY: Technical Levels on the Radar

These are the technical levels named in today’s forex analysis across the financial press, reported here for information only. On 🇪🇺🇺🇸 EUR/USD, StoneX analyst Julian Pineda placed key resistance at 1.1370, a nearer barrier at 1.1260, and major support at 1.1086, a zone last visited in May 2025, noting that the pair’s RSI below 30 signals oversold conditions. On 🇺🇸🇯🇵 USD/JPY, FXStreet identified 159.00 as the rejection zone, with the 160.00 psychological level above it and support in the 157.50 area. Sessions that reprice the policy path this quickly are a reminder of why sizing a position before a scheduled data release matters, a theme we cover in position sizing.

Forex Economic Calendar: High-Impact Events for EUR/USD Traders

The next two weeks of the forex calendar are unusually dense for euro and dollar traders. Times are CET (New York in brackets).

• 🇺🇸 Thursday 15 October, 14:30 (8:30): US producer price index (PPI) and retail sales for September, the first read on pipeline inflation after today’s CPI.
• 🇺🇸 Wednesday 28 October, 19:00 (14:00): Federal Reserve interest rate decision (FOMC), followed by Chair Kevin Warsh’s press conference at 19:30. Markets treat this as a live meeting after today’s data.
• 🇺🇸 Thursday 29 October, 13:30 (8:30): US advance GDP for the third quarter and September PCE inflation, the Fed’s preferred gauge, released together.
• 🇪🇺 Thursday 29 October, 14:15 (9:15): European Central Bank interest rate decision, with the ECB press conference at 14:45.
• 🇪🇺 Wednesday 4 November, 11:00: Euro area flash CPI for October, the first inflation print the ECB sees after its meeting.
• 🇺🇸 Friday 6 November, 14:30 (8:30): US jobs report for October (nonfarm payrolls), the last payrolls release before the December Fed meeting cycle begins.

Forex Trading Glossary: Three Terms From Today’s Expresso

• Consumer Price Index (CPI): the main US inflation gauge, measuring the change in prices households pay. Today’s 3.7 percent annual reading is what moved the dollar.
• Hawkish: a stance that favors higher interest rates to fight inflation. Hawkish comments or data tend to strengthen a currency, as they did for the dollar today.
• Oversold: a condition where an asset has fallen far enough, fast enough that momentum gauges like the RSI drop below 30. StoneX flagged EUR/USD as oversold after today’s slide.

What’s Brewing for Tomorrow

Thursday brings the week’s second inflation test. The 🇺🇸 US September producer price index and retail sales are both released at 14:30 CET (8:30 New York), the first read on pipeline price pressures one day after the hot CPI. With Reuters reporting roughly even market odds of a Fed hike at the October meeting, and StoneX flagging EUR/USD as oversold, the pairs enter the release with positioning already stretched.

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