Should we be on alert for increased volatility following remarks by key figures in the U.S.?

Should we be on alert for increased volatility following remarks by key figures in the U.S.?

16.05.2023

In the U.S. currency market yesterday, the U.S. dollar temporarily weakened against the yen after the May New York Fed Manufacturing Index, released yesterday, came in at -31.8—significantly below the market forecast of -3.8.The USD/JPY pair fell from 136.319 to 135.700. Although it subsequently fluctuated, it has not broken either the high or low during today’s Asian session and is currently stagnating just below the 20-period moving average on the hourly chart. With numerous key speeches scheduled for today, we should remain vigilant for potential volatility depending on the content of those remarks.

The euro rose slightly against the yen after yesterday’s release of March industrial production data for the eurozone showed a year-on-year decline of 1.4%, down from the previous month’s 2.0% increase. The EUR/JPY pair rose by approximately 90 pips, from 147.197 to 148.178.During today’s Asian session, the 200-period simple moving average (SMA) on the hourly chart has acted as a resistance level, causing prices to stall. We will closely monitor whether the euro recovers against the yen as we move into the European session.

Today’s economic indicators include the UK unemployment rate at 3:00 PM, Turkish home sales at 4:00 PM, the German ZEW Economic Sentiment Survey and Eurozone Q1 GDP at 6:00 PM, remarks by U.S. Federal Reserve Bank of Cleveland President Mester at 9:15 PM, the Canadian Consumer Price Index and U.S. retail sales at 9:30 PM, and U.S.Industrial Production, and U.S. Capacity Utilization; at 23:00, remarks by ECB President Lagarde and U.S. Fed Vice Chair Bar; at 25:15, remarks by U.S. Fed President Williams of the New York Fed; at 27:30, remarks by U.S. Fed President Goolsbee of the Chicago Fed; and at 28:15, remarks by U.S. Fed President Logan of the Dallas Fed.We should remain vigilant to see if volatility increases due to these key speeches 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