Investors should be cautious of price fluctuations caused by overlapping statements from key figures during U.S. trading hours

Investors should be cautious of price fluctuations caused by overlapping statements from key figures during U.S. trading hours

08.11.2023

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen despite the fact that the U.S. September trade balance, released yesterday, worsened from a deficit of $58.3 billion in the previous month to a deficit of $61.5 billion. The USD/JPY pair rose from 149.856 to 150.693, rebounding after touching the 200-period EMA on the 4-hour chart.On the daily chart, the uptrend along the 20-day moving average remains intact. Therefore, we will monitor today’s key speeches and keep an eye on the upside.

European currencies saw the euro’s upside capped after Germany’s September industrial production data, released yesterday, showed a year-on-year decline of 3.7%, worsening from the previous month’s 2.0% drop. The EUR/USD pair fell from 1.0721 to 1.0663, briefly dipping below the 75-period moving average on the hourly chart.From a technical perspective, the EUR/USD pair is currently in a pullback phase just below the daily 200-day EMA, so traders should watch to see if it will fall to around 1.0627, near the daily 20-day MA.

Today, at 4:00 PM, Germany’s Consumer Price Index; at 4:30 PM, Hungary’s trade balance; at 4:45 PM, France’strade balance, and France’s current account balance; at 6:30 PM, remarks by Bank of England Governor Bailey; at 7:00 PM, Eurozone retail sales; at 8:00 PM, Canada’s leading economic index; at 9:00 PM, the U.S. MBA mortgage applications index and Brazil’s retail sales; at 10:30 PM, Canada’s housing starts;23:15: U.S. Fed Chair Powell’s remarks, 24:00: U.S. Wholesale Inventories, 27:00: U.S. 10-Year Treasury Auction, 27:40: U.S. NY Fed President Williams’ remarks are scheduled. We must remain highly vigilant for price fluctuations caused by overlapping remarks from key figures during U.S. trading hours.

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