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Should investors be on the lookout for price fluctuations caused by remarks from key figures in the U.S.?

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Should investors be on the lookout for price fluctuations caused by remarks from key figures in the U.S.?

05.03.2024

Today's Highlights
  1. Japan: Consumer Price Index
  2. Australia's Current Account Balance

In the U.S. currency market the previous day, the U.S. dollar rose against the yen. The USD/JPY pair rose from 149.838 to 150.567.An uptrend along the 20-period moving average (MA) on the hourly chart was confirmed. Although USD/JPY briefly dipped below the daily 20-period MA, it recovered with a bearish candle featuring a lower wick, and the RSI still shows room for further movement. We will carefully assess the direction of the market to see if the U.S. dollar will continue to strengthen heading into U.S. trading hours.

European currencies saw the Swiss franc trade in a narrow range against the yen after Switzerland’s February Consumer Price Index (CPI), released yesterday, showed a year-over-year decline of 0.1 percentage points from the previous month’s 1.3% to 1.2%.The CHF/JPY pair traded between 169.726 and 170.704, ultimately settling near its opening level during Asian trading hours. While other yen crosses were rising, the CHF/JPY faced resistance on the upside and has been trading below its 20-day moving average.

Today’s schedule includes Japan’s Consumer Price Index at 8:30, the UK’s BRC Same-Store Sales at 9:01, Australia’s Current Account Balance at 9:30, China’s Caixin PMI at 10:45, India’s Services PMI at 14:00,at 16:45, France’s Industrial Production; at 17:50, France’s Services PMI; at 17:55, Germany’s Services PMI; at 18:00, the Eurozone’s Services PMI; at 18:30, the UK’s Services PMI; at 19:00, the Eurozone’sProducer Price Index at 19:00, U.S. PMI at 23:45, U.S. ISM Non-Manufacturing Index at 24:00, and remarks by U.S. Federal Reserve Vice Chair Bar at 26:00. Be on the lookout for price fluctuations caused by remarks from key figures during U.S. trading hours.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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