Will the market take a wait-and-see approach to the U.S. dollar’s movements in the first half of the Jackson Hole week?

Will the market take a wait-and-see approach to the U.S. dollar’s movements in the first half of the Jackson Hole week?

21.08.2023

Last weekend, the Canadian dollar fell against the yen despite the improvement in Canada’s July industrial production data, released on the 18th, which rose to +0.4% from -0.6% the previous month. The CAD/JPY pair fell by just over 60 pips, from 107.663 to 107.023.It broke below the 75-period moving average (MA) on the 4-hour chart. On the higher-timeframe daily chart, CAD/JPY is positioned just below the 20-period MA and is trending toward the lower boundary of the uptrend line; therefore, we will closely monitor whether the Canadian dollar remains weak against the yen.

European currencies fell against the U.S. dollar after the final July consumer price index (CPI) for the eurozone, released last weekend, came in at 5.3% year-over-year, matching the previous month’s figure.The EUR/USD pair fell slightly from 1.0893 to 1.0844, hitting a new low for the month. On the daily chart, with the 200-day moving average (200SMA) support line lying about 100 pips below, we will wait and see if the price drops to the support level around 1.0786.

Today, at 3:00 PM, Germany’s Producer Price Index; at 5:00 PM, the Philippines’ Industrial Production; at 5:20 PM, Taiwan’s Current Account Balance;at 5:30 PM Hong Kong’s Consumer Price Index, at 9:30 PM Canada’s New Home Price Index and Poland’s benchmark interest rate, at 11:30 PM Turkey’s central government debt, and at 12:30 AM the U.S. 3-month/6-month Bill auction.This week, attention is expected to focus on remarks by Fed Chair Powell at the Jackson Hole Symposium, which begins on the 24th. We will closely monitor whether the U.S. dollar’s movements in the first half of Jackson Hole week will be significant.

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