It remains to be seen whether the GBP/JPY pair, which has been stuck in the high 180-yen range, will break out.
26.12.2023
- Turkey: Equipment Utilization Rate
- U.S. 2-Year Treasury Auction
In the previous day’s U.S. currency markets, trading remained low-volatility across various currencies due to the Christmas holiday. The CAD/JPY pair rose in contrast to the weakening USD/JPY, climbing from 106.818 to 107.559.From a technical perspective, CAD/JPY has failed in two attempts to break below the daily 200-day SMA and has entered a rebound phase. We will closely monitor whether the Canadian dollar continues to rise against the yen during European trading hours.
European markets were closed for Christmas, as were those in major U.S. markets, and markets in the UK, Germany, and Switzerland are scheduled to remain closed today as well. The GBP/JPY pair is trading within a very narrow range in the high 180s. We will be watching closely to see if the pound continues to show no significant movement against the yen as we approach the end of the European holiday period.
Today’s schedule includes Japan’s employment statistics and corporate service price index at 8:30 a.m., Singapore’s industrial production and consumer price index at 2:00 p.m., Turkey’s capacity utilization rate at 4:00 p.m.,Turkey’s Manufacturing Confidence Index at 2:30 PM, the U.S. Chicago Fed National Activity Index at 10:30 PM, the U.S. Housing Price Index and the U.S. S&P Case-Shiller Home Price Index at 11:00 PM, the U.S. Dallas Fed Manufacturing Activity Index at 12:30 AM, the U.S. 2-Year Treasury Auction at 2:00 AM, and South Korea’s Consumer Confidence Index at 3:00 AM.I want to watch closely to see if GBP/JPY, which has been stuck in the upper 180 yen range, will finally break out.
Author: Keisuke Sakurai
