All eyes are on whether currency strength and weakness will become clear before the start of the Christmas holidays in Europe and the U.S.

All eyes are on whether currency strength and weakness will become clear before the start of the Christmas holidays in Europe and the U.S.

22.12.2023

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen after the U.S. third-quarter real GDP, released yesterday, declined to 4.9% from the previous reading of 5.2%. The USD/JPY pair fell from 143.552 to 142.038.The decline continued during today’s Asian trading session, with the pair touching 141.868. Since the daily chart has temporarily dipped below the 200-day moving average, we will closely monitor whether this downward momentum continues.

Among European currencies, the euro fell slightly against the yen ahead of today’s release of Germany’s import price index during European trading hours.The EUR/JPY pair fell from 157.130 to 156.115, briefly dipping below the 200-period simple moving average (SMA) on the hourly chart. However, the yen’s strength has paused during today’s Asian trading session, and the EUR/JPY pair is rebounding. Therefore, we will be watching closely to see if the yen weakens and the euro recovers ahead of the Christmas holidays in Europe and the U.S.

Today’s schedule includes UK retail sales, UK Q3 GDP, and the UK current account balance at 16:00 CET; the French consumer confidence index and French producer price index at 16:45 CET; Taiwan’s unemployment rate at 17:00 CET; and Mexico’s trade balance at 21:00 CET. In US time, at 22:30 ET, we have Canada’s real GDP,U.S. durable goods orders, U.S. personal income, and U.S. PCE deflator; at 24:00, U.S. new home sales and the University of Michigan Consumer Sentiment Index. We will be watching closely to see if currency strength and weakness become clear before the Christmas holidays in Europe and the U.S.

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