With the Japanese market set to close, investors may be watching currency strength and weakness in U.S. trading hours

With the Japanese market set to close, investors may be watching currency strength and weakness in U.S. trading hours

20.03.2023

Last weekend, the U.S. dollar weakened as reports spread that Credit Suisse, a major Swiss financial institution, might face bankruptcy, causing the Dollar Index to decline. The USD/JPY pair fell by approximately 2 yen, from 133.745 to 131.554.The USD/JPY pair is facing resistance at the 75-period moving average (MA) on the hourly chart, and the downtrend that began on March 8 continues. Since the pair has already broken significantly below the 20-period MA on the daily chart, investors should remain cautious of further declines.

European currencies fell against the yen as the Eurozone Consumer Price Index (CPI), released on the 17th, came in at 8.5% year-on-year, missing market expectations.The EUR/JPY pair fell from 142.203 to 140.168. The decline was driven by resistance at the 75-period moving average on the hourly chart. However, unlike USD/JPY, EUR/JPY has not broken below its previous low, so we will be watching closely to see if a rebound occurs following the FOMC meeting the day after tomorrow.

Today, at 4:00 PM CET, Germany’s Producer Price Index will be released; at 6:00 PM, Poland’s Industrial Production; at 7:00 PM, the Eurozone’s, at 21:00, Mexico’s Retail Sales, and during U.S. trading hours at 23:00, remarks by ECB President Lagarde, at 24:30, the U.S. 6-month Treasury bill auction, and at 6:45 the following day, New Zealand’s Trade Balance. Since the Japanese market will be closed tomorrow for a holiday, we will closely monitor currency strength and weakness during U.S. trading hours.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran