Investors should keep an eye on price movements at the start of the week leading up to the U.S. jobs report

Investors should keep an eye on price movements at the start of the week leading up to the U.S. jobs report

29.05.2023

Last weekend, the U.S. dollar rose against the euro after the U.S. April Core PCE Deflator, released on the 26th, rose from 4.6% to 4.7% year-over-year.The EUR/USD pair fell from 1.0757 to 1.0701, finding support near the 200-day EMA on the daily chart. Since the EUR/USD has been in a downtrend on the 4-hour chart—with the 20-day MA acting as resistance—since the 4th of this month, traders should remain cautious of further declines during European trading hours.

Despite the fact that the UK’s April retail sales, released last weekend, narrowed from a year-on-year decline of 3.1% to 3.0%, the pound traded in a tight range against the US dollar. GBP/USD fluctuated wildly between 1.2311 and 1.2392, with price action straddling the 20-period moving average on the hourly chart.From a technical perspective, a downtrend along the 20-period moving average on the 4-hour chart has been in place since May 10, so we will be watching closely to see if the pair extends its decline toward the next support level around 1.2279.

Today, Swedish household loans are scheduled for 3:00 PM Asia time, followed by the Turkish Economic Confidence Index at 4:00 PM Europe time, Hong Kong’s trade balance at 5:30 PM, Brazilian employment figures at 2:00 AM U.S. time, and New Zealand housing permits at 7:45 AM the following day. No economic indicators are scheduled for release during U.S. trading hours.With the U.S. jobs report coming up this weekend, we will be closely monitoring price movements at the start of the week to see if the U.S. dollar reacts ahead of the report.

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