Will the franc's rise continue?

Will the franc's rise continue?

05.10.2021

Yesterday, the three major U.S. stock indices all fell, creating a risk-off sentiment characterized by falling stock prices, rising interest rates, and higher oil prices. The rise in WTI crude oil prices was particularly sharp; it is currently trading around $77.40 per barrel, reaching its highest level in about seven years. Commodity prices are surging following reports that OPEC+ will maintain its reduction of production cuts by 400,000 barrels per day.

As of yesterday, the Swiss franc emerged as the strongest currency in the foreign exchange market, and the CHF/JPY pair rose sharply, climbing approximately 120 pips from 118.98 to 120.18. The CHF/JPY pair has broken above its recent high of 120.20 on the 4-hour chart, and depending on the strength of the U.S. dollar, we should keep in mind the possibility of a further rise toward the daily high of around 120.27.

Today’s schedule includes French industrial production at 3:45 PM, the UK services PMI (final reading) at 5:30 PM, the Canadian and U.S. trade balances at 9:30 PM, the U.S. services PMI (final reading) at 10:45 PM,at 11:00 PM, the US ISM Non-Manufacturing PMI; at 12:00 AM, remarks by ECB President Lagarde; and at 2:15 AM, remarks by US Federal Reserve Vice Chair Quarles. Amid a general risk-off sentiment, we want to closely monitor how European currencies will perform.

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