Will the pause in the yen's decline continue?

Will the pause in the yen's decline continue?

22.10.2021

Yesterday, in the U.S. market, two of the three major stock indices rose, resulting in a market trend characterized by higher stock prices, higher interest rates, and lower oil prices. The number of new U.S. unemployment insurance claims released yesterday came in at 2.48 million, compared to the market forecast of 2.55 million, marking the third consecutive week of decline in claims.WTI crude oil fell to $82.20. Crude oil futures prices declined after the U.S. National Oceanic and Atmospheric Administration (NOAA) forecast a mild winter for the United States.

The foreign exchange market is seeing a broad-based decline in the euro, with the EUR/AUD pair hitting a new low for the month. It is currently trading around 1.555. The EUR/AUD pair has already broken below the trendline support at 1.565, and if the decline continues, the next immediate support level at 1.529 will likely be the target for further downside movement.

Today’s economic indicators include UK retail sales at 3:00 PM, French manufacturing/services PMI at 4:15 PM, German manufacturing/services PMI at 4:30 PM, Eurozone manufacturing/services PMI at 5:00 PM, UK manufacturing/services PMI at 5:30 PM, Canadian retail sales at 9:30 PM,U.S. Manufacturing/Services PMI at 10:45 PM, remarks by U.S. Federal Reserve Vice Chair Quarles and remarks by U.S. San Francisco Fed President Daly at 11:00 PM, and remarks by U.S. Federal Reserve Chair Powell at midnight. With the yen’s decline having paused, we want to carefully assess how the foreign exchange market will unfold over the weekend.

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