Will the cross-yen pairs rebound as concerns over the Omicron variant ease?

Will the cross-yen pairs rebound as concerns over the Omicron variant ease?

30.11.2021

Yesterday, the three major U.S. stock indices all rebounded, resulting in a market environment characterized by rising stock prices, falling interest rates, and stable crude oil prices. A sense of relief spread through the stock market as concerns over the spread of the Omicron variant of the novel coronavirus subsided. The yield on the 10-year U.S. Treasury note is currently hovering around 1.52%.

In the foreign exchange market, the euro is trading slightly higher against the U.S. dollar, with the EUR/USD pair rebounding from 1.120 to 1.129. From a technical perspective, the EUR/USD pair is rebounding with support from the 20-period moving average (MA) on the 4-hour chart, so we need to carefully assess whether this rebound will continue along the 20-MA.

Today, at 4:00 PM, France’s Consumer Price Index (flash estimate) and Q3 GDP (revised); at 5:00 PM, Switzerland’s KOF Leading Index; at 5:55 PM, Germany’s unemployment rate; at 7:00 PM, the Eurozone’s Consumer Price Index (flash estimate); at 10:00 PM, remarks by a member of the Bank of England’s Monetary Policy Committee; at 10:30 PM, Canada’s GDP;the U.S. S&P Case-Shiller Home Price Index at 11:00 PM, the U.S. Chicago Purchasing Managers’ Index at 11:45 PM, the U.S. Consumer Confidence Index at midnight, testimony by Fed Chair Powell before Congress, testimony by Treasury Secretary Yellen before Congress, and testimony by Fed Governor Clarida before Congress at 3:00 AM.As today marks the final day of November, we intend to carefully monitor market movements to see which direction they will take.

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