Market participants may be on alert for price movements during U.S. trading hours at the start of the month

Market participants may be on alert for price movements during U.S. trading hours at the start of the month

01.10.2021

In the previous day’s New York market, a trend of falling stock prices, lower interest rates, and rising crude oil prices emerged, fueling a risk-off sentiment characterized by dollar selling and yen buying. The decline was particularly pronounced toward the close, with the U.S. dollar falling in tandem with stock prices.From a technical perspective, if the dollar continues to weaken, it could fall to around 110.917, which is near the 50% retracement level on the hourly chart. If a rebound occurs, the pair could target 111.33, which is near the 23.6% Fibonacci retracement level. However, since the RSI on the daily chart remains high at around 70, caution is advised against chasing the downside just in case.

Today’s schedule includes German retail sales at 3:00 PM, Turkey’s Manufacturing PMI at 4:00 PM, the UK’s Manufacturing PMI at 5:30 PM, the Eurozone’s Consumer Price Index (flash estimate) at 6:00 PM, and Canada’s GDP at 9:30 PM,U.S. personal income and U.S. core PCE deflator at 9:30 PM, U.S. manufacturing PMI at 10:45 PM, U.S. ISM Manufacturing PMI and U.S. University of Michigan Consumer Sentiment Index at 11:00 PM, remarks by U.S. Federal Reserve Bank of Philadelphia President Harker at 12:00 AM, and remarks by U.S. Federal Reserve Bank of Cleveland President Mester at 2:00 AM.

Since the daily candlestick for yesterday—the last trading day of the month—formed a harami pattern, we should remain vigilant regarding price movements as positions are closed this Friday, the first trading day of the month, and be cautious about the dollar’s downside momentum.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed