All eyes are on whether the Swiss franc, which became the weakest currency after hitting a new high, will recover

All eyes are on whether the Swiss franc, which became the weakest currency after hitting a new high, will recover

19.01.2024

U.S. currencies weakened toward the end of the U.S. trading session yesterday after the U.S. December housing starts data, released yesterday, showed a sharp deterioration from the previous month’s 14.8% to a decline of 4.3%, and the U.S. January Philadelphia Fed Business Outlook Index, also released on the same day, worsened from the previous month’s -10.5 to -10.6.The AUD/USD pair rose from 0.6525 to 0.6574, extending its gains to just below the 75-period moving average on the hourly chart. We will closely monitor whether Oceania currencies will continue to strengthen against the US dollar.

Among European currencies, the Swiss franc was the weakest throughout the day. The CHF/JPY pair, which had been trading at record highs, underwent a corrective move, falling by approximately 1.1 yen from 171.455 to 170.311—a decline that differed from the movements of other yen crosses. However, during today’s Asian trading session, the pair immediately rebounded and is currently trading firmer against the yen.Ahead of next week’s BOJ meeting, we will be watching closely to see if the CHF/JPY pair resumes its upward trend.

Today’s schedule includes Japan’s Consumer Price Index at 8:30, Japan’s Tertiary Industry Activity Index at 13:30, UK Retail Sales and Germany’s Producer Price Index at 16:00, Switzerland’s Imported Producer Prices at 16:30, remarks by ECB President Lagarde at 19:00, India’s Foreign Exchange Reserves at 20:30,at 9:00 PM, Mexico’s Retail Sales; at 10:30 PM, Canada’s Retail Sales; at 12:00 AM, the U.S. University of Michigan Consumer Sentiment Index and U.S. Existing Home Sales; at 1:15 AM, remarks by U.S. Federal Reserve Bank of San Francisco President Daly; and at 3:00 AM, remarks by U.S. Federal Reserve Vice Chair Bar.We will be watching to see if the Swiss franc, which has become the weakest currency, will recover.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   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

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   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?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed