Investors should keep an eye on currency strength trends, which appear to be shifting from yen appreciation at the end of the month to yen depreciation

Investors should keep an eye on currency strength trends, which appear to be shifting from yen appreciation at the end of the month to yen depreciation

01.12.2023

In yesterday’s U.S. trading session, the Canadian dollar rose against the yen ahead of today’s U.S. employment report. The CAD/JPY pair rebounded by approximately 130 pips, rising from 108.061 to 109.451. On the hourly chart, the price broke above the 200-period SMA resistance with a bullish candle.Technically, the CAD/JPY pair is trading in a range as it searches for direction around the daily 20-day moving average, and the daily RSI is also stagnating around the 50 level. We will be watching to see if the Canadian dollar continues its rebound against the yen into early December.

European currencies saw the Swiss franc rise against the yen after Switzerland’s October retail sales, released yesterday, improved to -0.1% from -0.6% the previous month. The CHF/JPY pair rose from 168.032 to 170.208. On the 4-hour Bollinger Bands chart, the price temporarily broke above the +3σ line.On the daily chart, while the price remains within the +2σ range of the Bollinger Bands, the lows are rising, so caution is warranted regarding the potential for an upward move at the start of the month.

Today’s schedule includes India’s Manufacturing PMI at 14:00, Turkey’s Manufacturing PMI at 16:00, France’s Budget Balance at 16:45, Switzerland’s Real GDP at 17:00, Switzerland’s SVME Purchasing Managers’ Index at 17:30, Germany’s Manufacturing PMI at 17:50, the Eurozone Manufacturing PMI at 18:00, the UK’sManufacturing PMI, 10:30 PM: Canada Employment Report, 11:45 PM: US Manufacturing PMI, 12:00 AM: US Construction Spending, US ISM Manufacturing Index, US Goolsbee (Chicago Fed President) remarks, and 1:00 AM: US Fed Chair Powell remarks.We need to carefully assess the shift in currency strength, which is moving from yen appreciation at the end of the month to yen depreciation.

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