With few key economic indicators available, will the release of these figures affect currency strength?

With few key economic indicators available, will the release of these figures affect currency strength?

02.06.2023

In the U.S. currency market yesterday, the dollar fell against the euro after the number of new U.S. unemployment insurance claims, released yesterday, rose to 232,000 from the previous reading of 229,000.The EUR/USD pair rose by approximately 100 pips from 1.0661 to 1.0767, breaking above the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the pair rebounded just below the 75-period SMA, avoiding a new low for the year. From a technical perspective, since the pair rebounded without touching the neckline around 1.0528, it will be worth watching to see if the upward trend continues.

European currencies saw the euro rebound against the yen after ECB President Lagarde stated that “there is no clear evidence that core inflation has peaked,” effectively dampening expectations of an imminent pause in rate hikes. Amid a decline in the USD/JPY pair, the EUR/JPY rose by about 1 yen, climbing from 148.618 to 149.668.During today’s Asian trading session, the pair has maintained an upward trend, supported by the 20-period moving average on the hourly chart. We will closely monitor price movements during European trading hours to determine whether the euro’s rebound against the yen will continue.

Today, French industrial production and the French manufacturing production index are scheduled for release at 3:45 p.m. during Asian trading hours, followed by Brazilian industrial production at 9:00 p.m. during European trading hours and U.S. employment data at 9:30 p.m. during U.S. trading hours. There are no major policy speeches scheduled, so the economic calendar is relatively light. Additionally, New Zealand markets will be closed at the start of the week due to a public holiday.With few major indicators on the schedule, we will carefully monitor the market to see if currency strength shifts in response to these releases.

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