Attention is likely to focus on the movement of the U.S. dollar as the new fiscal year begins

Attention is likely to focus on the movement of the U.S. dollar as the new fiscal year begins

01.04.2022

The U.S. dollar was firm against both the euro and the yen yesterday, with the USD/JPY pair rising from 121.28 to 122.73. Meanwhile, for today’s U.S. jobs report, the market forecast for nonfarm payrolls stands at 490,000, while the unemployment rate is expected to be 3.7%, down 0.1 percentage points from the previous reading. We should pay close attention to price movements following today’s jobs report release.

Amid reports of ceasefire talks between Russia and Ukraine, European currencies fell across the board, with the euro dropping sharply; the EUR/GBP pair fell back by about 100 pips from 0.851 to 0.841. From a technical perspective, since the EUR/GBP pair has been undergoing a corrective decline after breaking above the daily 200-day SMA, we should anticipate a potential drop to the recent low around 0.831 while keeping a close eye on whether a further rebound will occur.

Today, during European trading hours, the Swiss Manufacturing PMI is scheduled for 16:30, the UK Manufacturing PMI for 17:30, and the Eurozone Consumer Price Index (flash estimate) for 18:00. Once U.S. trading hours begin, the U.S. Employment Report is set for 21:30, and at 22:05, Chicago Fed President Evans is scheduled to speak:Chicago Fed President Evans, at 10:45 PM the US Manufacturing PMI, and at 11:00 PM the US ISM Manufacturing Index and US Construction Spending. With the new fiscal year now officially underway, we want to closely monitor how the foreign exchange market will move.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 16.04.2026New

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

6. 15.04.2026

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

7. 14.04.2026

   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

8. 13.04.2026

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

9. 10.04.2026

   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?

10. 09.04.2026

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