Markets may be watching price movements at the start of the week following the U.S. jobs report

Markets may be watching price movements at the start of the week following the U.S. jobs report

29.08.2022

Last weekend, the U.S. dollar strengthened following hawkish comments from Fed Chair Powell, causing GBP/USD to drop by approximately 160 pips from 1.1899 to 1.1733.GBP/USD has continued to decline during today’s Asian session, currently trading at 1.1650 and hitting a new low for the year. With the pound weakening, the magnitude of the decline has increased. As GBP/USD has entered a support-less zone, we should remain cautious of further downside movement toward the next support level at 1.1433.

European currencies rose as France’s August consumer confidence index, released last weekend, improved from 80 to 82, causing the euro/yen pair to climb by just under 2 yen from 136.014 to 137.967.Although the pair temporarily fell following remarks by Fed Chair Powell, it has recovered during today’s Asian trading session and is currently trading around 137.283. We will be closely monitoring whether it breaks above the 200-period SMA on the 4-hour chart and continues to rise.

Today, Turkey’s trade balance and economic confidence figures are scheduled for 4:00 PM, the Dallas Fed Manufacturing Index for the U.S. at 11:30 PM, a U.S. 3-month Treasury bill auction at 12:30 AM, and remarks by U.S. Federal Reserve Vice Chair Brainard at 3:15 AM.With the U.S. ADP Employment Report on Wednesday, the 31st, the U.S. ISM Manufacturing PMI on Thursday, the 1st, and the U.S. Nonfarm Payrolls report on Friday, the 2nd, coming up this week, attention on the U.S. dollar is likely to intensify. We should carefully assess the dollar’s price movements heading into the weekend.

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?