Investors should be on the lookout for price fluctuations caused by remarks from key figures in the U.S.
05.03.2024
- Japan: Consumer Price Index
- Australia's Current Account Balance
In yesterday’s U.S. trading session, the U.S. dollar strengthened against the yen. The USD/JPY pair rose from 149.838 to 150.567. The upward movement along the 20-period moving average (MA) on the hourly chart was confirmed. Although the 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 monitor the direction of the market to see if the U.S. dollar maintains its strength heading into U.S. trading hours.
European currencies saw the Swiss franc fluctuate against the yen after Switzerland’s February Consumer Price Index (CPI), released yesterday, fell by 0.1 percentage points year-on-year to 1.2% from the previous month’s 1.3%.CHF/JPY traded between 169.726 and 170.704, ultimately settling near its opening level during Asian trading hours. While other yen crosses rose, CHF/JPY faced resistance on the upside and has been trading below the 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, and France’sIndustrial Production, at 5:50 PM France’s Services PMI, at 5:55 PM Germany’s Services PMI, at 6:00 PM the Eurozone’s Services PMI, at 6:30 PM the UK’s Services PMI,19:00: Eurozone Producer Price Index; 23:45: U.S. PMI; 24:00: U.S. ISM Non-Manufacturing Index; 26:00: Remarks by U.S. Federal Reserve Vice Chair Bar. Be on the lookout for price fluctuations caused by remarks from key figures during U.S. trading hours.
Author: Keisuke Sakurai
