Will the weekend’s currency strength and weakness become clearer? All eyes are on price movements during U.S. trading hours.

Will the weekend’s currency strength and weakness become clearer? All eyes are on price movements during U.S. trading hours.

21.07.2023

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the July Philadelphia Fed Business Outlook Index, released yesterday, showed a narrowing of the decline to -13.5 from -13.7 the previous month. The USD/JPY pair broke through the key 140-yen level from 139.125, touching 140.496.It has remained in the 140-yen range during today’s Asian trading session. As the USD/JPY pair has moved above the 20-period moving average on the hourly chart following yesterday’s rise, attention will focus on whether the dollar’s strength holds during U.S. trading hours.

Despite the preliminary July Eurozone Consumer Confidence Index released yesterday showing a slight improvement to -15.1 from -16.1 the previous month, the euro fell against the yen toward the close of U.S. trading. The EUR/JPY pair dropped from 156.617 to 155.854. It broke below the 20-period moving average (MA) on the 4-hour chart and briefly fell to near the 75-period MA.During today’s Asian session, the yen has weakened again, and EUR/JPY has rebounded to 156.253. We will monitor the market to determine whether the euro will continue to rise into the European session.

Today’s schedule includes UK retail sales at 3:00 PM Asia time, Thailand’s foreign exchange reserves at 4:30 PM Europe time, the Philippines’ retail sales at 5:00 PM, Russia’s policy rate at 7:30 PM, India’s foreign exchange reserves at 8:30 PM, and Canada’s retail sales and new home price index at 9:30 PM US time.We will be closely monitoring price movements during U.S. trading hours to see if currency strength and weakness become clearer over the weekend.

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