Should we be wary of volatility fluctuations while markets in Japan, Canada, and the U.S. are closed?

Should we be wary of volatility fluctuations while markets in Japan, Canada, and the U.S. are closed?

10.10.2022

Last weekend, U.S. currencies strengthened on the back of solid economic data. GBP/USD fell by approximately 160 pips from 1.1222 to 1.1053, breaking below the 200-period SMA on the hourly chart. GBP/USD continues to test lower levels during today’s Asian session, with the 20-period MA acting as resistance and driving the pair lower.On the 4-hour chart, the pair entered a downtrend after touching the 200-period SMA, so we will monitor the situation carefully to see if the decline continues for the time being.

European currencies remained largely unchanged against the yen, as Swiss employment data released last weekend on the 7th came in strong, while cross-yen pairs generally declined. Switzerland’s seasonally adjusted unemployment rate for September stood at 2.1%, maintaining its low level. The CHF/JPY pair is currently trading at 146.329, just below the 20-period moving average on the hourly chart. We will be watching closely to see if the franc’s downside finds support during European trading hours.

Today, at 3:00 PM Asia time, Norway’s Consumer Price Index and Producer Price Index will be released; at 4:00 PM Europe time, Hungary’s trade balance and Turkey’s unemployment rate will be released; at 5:30 PM, the Eurozone Investor Sentiment Index will be released; and at 10:00 PM U.S. time, remarks by Chicago Fed President Evans are scheduled, followed by the U.S. Employment Trends Index at 11:00 PM.Chicago Fed President Evans, and at 11:00 PM US time, the US Employment Trends Index. The bond market will be closed today during US trading hours. I will be watching closely to see if there are any clear price movements during US trading hours.

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?