Will the U.S. dollar, which has weakened due to economic indicators, continue to fall toward the end of the week?

Will the U.S. dollar, which has weakened due to economic indicators, continue to fall toward the end of the week?

05.10.2023

In the U.S. currency market yesterday, the U.S. dollar temporarily fell against the yen following the release of the September ADP employment report, which showed a significant downward revision from 177,000 in the previous month to 89,000. The USD/JPY pair traded in a narrow range between 149.312 and 148.734, with the 20-period moving average on the hourly chart consistently capping gains.On the 4-hour chart, the pair is barely finding support at the 75-period moving average, so we should remain cautious regarding comments from key officials during U.S. trading hours.

European currencies fell, with the euro dropping against the pound after yesterday’s release of the Eurozone’s August Producer Price Index (PPI) showed a deterioration from a year-over-year decline of 7.6% to 11.5%.The euro-pound pair fell from 0.8682 to 0.8639, briefly dipping below the 75-period moving average (MA) on the 4-hour chart. However, on the higher-timeframe daily chart, the pair continues to find support at the 20-period MA, so traders should monitor currency strength during European trading hours.

Today’s schedule includes Germany’s trade balance at 3:00 PM, France’s industrial production at 3:45 PM, Taiwan’s consumer price index at 5:00 PM, and the UK’sConstruction PMI, at 6:45 PM UK Deputy Governor Broadbent’s remarks, at 8:30 PM US Challenger Job Cuts, at 9:00 PM Mexico Consumer Confidence Index, at 9:30 PM US Initial Jobless Claims, Canada International Merchandise Trade, US Trade Balance,22:00: Remarks by German Bundesbank President Nagel and U.S. Federal Reserve Bank of Cleveland President Mester; 23:00: Canada’s Ivey Purchasing Managers’ Index; 23:40: Remarks by U.S. Federal Reserve Bank of Minneapolis President Kashkari; and 25:15: Remarks by U.S. Federal Reserve Vice Chair Barr.We will closely monitor whether the US dollar, which has weakened due to economic indicators, will continue to decline into the latter half of the week.

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