Market participants are likely to keep a close eye on currency strength and weakness amid the three-day weekend in Europe and the U.S.

Market participants are likely to keep a close eye on currency strength and weakness amid the three-day weekend in Europe and the U.S.

07.04.2023

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the U.S. Challenger job cuts for March, released yesterday, showed a significant decline from the previous reading. The USD/JPY pair rose by approximately 110 pips, from 130.780 to 131.917. Combined with remarks by St. Louis Fed President Bullard, who emphasized the need for continued rate hikes, the pair rebounded to the 75-period moving average on the hourly chart.As the market has been trading sideways during today’s Asian session, attention will focus on whether the U.S. nonfarm payrolls report during the U.S. session will provide a clearer sense of direction.

European currencies rose against the yen after Germany’s February industrial production, released yesterday, came in at a 0.6% year-over-year increase, beating market expectations. The euro showed momentum by breaking above the 200-period simple moving average (SMA) on the hourly chart. During today’s Asian trading session, it has been trading around 143.710. Given that the daily chart shows a pattern of higher lows, we will carefully monitor whether price action picks up over the weekend.

Today’s economic indicators include France’s trade balance and current account balance at 3:45 p.m., India’s foreign exchange reserves at 8:30 p.m., Poland’s central bank foreign exchange reserves at 9:00 p.m., U.S. employment data at 9:30 p.m., Russia’s fourth-quarter GDP at 1:00 a.m., and U.S. consumer credit balances at 4:00 a.m.Please note that today, due to Easter, markets in major Western countries—including the UK, the US, and Germany—are closed. With the West observing a three-day holiday weekend, we will carefully assess currency strength and weakness.

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