Will the pound's rise continue during U.S. trading hours?

Will the pound's rise continue during U.S. trading hours?

06.10.2021

Yesterday, two of the three major U.S. stock indices fell, resulting in a market environment characterized by falling stock prices, rising interest rates, and higher oil prices. The U.S. ISM Non-Manufacturing Purchasing Managers' Index (PMI) for September, released yesterday, rose slightly to 61.9, exceeding the market forecast of 59.9; however, the U.S. trade balance for August, also released yesterday, posted a deficit for the first time in two months.

In the foreign exchange market, the pound, which had been falling sharply, has recovered, and the GBP/JPY pair has risen for the third consecutive day to 151.85. Looking at the GBP/JPY on a daily chart, the price has rebounded off the 200-day moving average. Although the highs are declining, the lows are holding steady; therefore, the key will be whether the pair can firmly break above the recent high of 152.55 with a solid body.

Today’s schedule includes German manufacturing orders at 3:00 PM, the UK Construction PMI at 5:30 PM, Eurozone retail sales at 6:00 PM, the US MBA Mortgage Applications Index at 8:00 PM, the US ADP National Employment Report at 9:15 PM, remarks by Bostic, President of the Atlanta Fed, at 10:00 PM, US weekly crude oil inventories at 11:30 PM,and at 12:30 AM, remarks by Bostic, President of the Atlanta Fed. We will carefully assess whether European currencies can demonstrate their resilience against the strengthening U.S. dollar.

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