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Will the Yen's Strength and the Franc's Weakness Continue?

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Will the Yen's Strength and the Franc's Weakness Continue?

18.06.2021

Today's Highlights
  1. Germany: Producer Price Index
  2. The Swiss franc is falling

Yesterday, while the Nasdaq rebounded in U.S. markets, the Dow Jones Industrial Average continued to fall, resulting in a session characterized by flat stock prices, lower commodity prices, and a stronger U.S. dollar.The fear index (VIX) remained stable at 17.5, while BTC/USD fell below $40,000 again and is currently trading in the $37,800 range.Additionally, the Nikkei 225, which had fallen below 29,000 yen, has recovered to the 29,000 yen range and is currently at 29,076 yen.

In the foreign exchange market, the Swiss franc plummeted starting during yesterday’s European trading session. The CHF/JPY pair fell by about 100 pips from 121.87 to 119.93, and as of now during Asian trading hours, it continues to consolidate near its lows.The USD/CHF pair rose from 0.900 to 0.918, reaching its highest level since late April of this year.

As for today’s economic indicators, UK retail sales and the German producer price index are scheduled for 15:00, and a press conference by Bank of Japan Governor Kuroda is set for 15:30; other than that, no major economic releases or statements by key figures are expected.Since there are no major events, price movements are likely to be straightforward, so I plan to closely monitor currency strength and weakness while observing price trends.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management with a particular focus on foreign exchange markets, and he also has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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