Attention may turn to the U.S. S&P/Case-Shiller Home Price Index

Attention may turn to the U.S. S&P/Case-Shiller Home Price Index

31.05.2022

Yesterday, the U.S. dollar strengthened against the yen, with the USD/JPY pair rising by approximately 90 pips from 126.85 to 127.83. During today’s Asian trading session, the pair continued to climb, briefly touching 128.33 and breaking out of the descending channel. We will be watching to see if the price closes above the 20-day moving average on the daily chart.

European currencies continued to rise yesterday after ECB Executive Board member Lane specifically stated that “interest rate hikes of 0.25% at each upcoming ECB meeting would be desirable,” pushing the euro/dollar pair to a new monthly high of 1.078. Since the euro/dollar pair easily broke through the resistance at the 200-period simple moving average (SMA) on the 4-hour chart and continues to rise along the 20-period moving average (MA), we should keep an eye on further upside potential, even as the market undergoes a correction.

Today, at 15:45 CET, France will release its Q1 GDP and Producer Price Index; at 16:00, Turkey will release its trade balance and Q1 GDP; at 16:55, Germany will release its unemployment rate; at 17:30, the UK will release its mortgage approvals; and at 18:00, the Eurozone will release theConsumer Price Index (flash estimate), and during U.S. trading hours at 21:30, Canada’s GDP; at 22:00, the U.S. S&P/Case-Shiller Home Price Index; at 22:45, the U.S. Chicago PMI; at 23:00, the U.S. Consumer Confidence Index; and at 23:30, the U.S. Dallas Fed Manufacturing Activity Index.We should pay close attention to the economic data releases during U.S. trading hours and keep an eye on the direction of the U.S. dollar.

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?