All eyes are on whether buying of the U.S. dollar will continue on the last Friday of the month

All eyes are on whether buying of the U.S. dollar will continue on the last Friday of the month

30.06.2023

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen following the release of positive results for first-quarter U.S. GDP and initial jobless claims. Although the USD/JPY pair briefly dipped below the 20-period moving average on the hourly chart, it quickly rebounded and climbed to around 144.850.The upward trend has continued into today’s Asian session, marking the seventh consecutive bullish candle on the daily chart. It will be worth watching whether the US dollar extends its gains on the final day of the month.

Despite the preliminary June consumer price index for Germany, released yesterday, coming in at 6.4% year-over-year—up from 6.1% the previous month—the euro fell against the U.S. dollar. The EUR/USD pair dropped by approximately 80 pips from 1.0940 to 1.0860. The decline halted as the 200-period EMA on the 4-hour chart provided support.Since the EUR/USD pair is showing signs of a head-and-shoulders pattern on the 4-hour chart, we should remain vigilant to see if downward price movement occurs during U.S. trading hours.

Today’s schedule includes UK Q1 GDP, UK Q1 current account balance, and UK Nationwide house prices at 3:00 PM; Swiss retail sales at 3:30 PM; French CPI and PPI at 3:45 PM; the Swiss KOF Leading Index at 4:00 PM; and Germanunemployment rate, at 6:00 PM the Eurozone Consumer Price Index, at 9:30 PM Canada’s GDP, U.S. personal income, and U.S. PCE deflator, at 10:45 PM the U.S. Chicago PMI, and at 11:00 PM the U.S. University of Michigan Consumer Sentiment Index. We will be closely monitoring the market direction to see if the buying of the U.S. dollar continues on this final Friday of the month.

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