Will the U.S. dollar strengthen or weaken in response to remarks by key figures?

Will the U.S. dollar strengthen or weaken in response to remarks by key figures?

02.04.2024

In yesterday’s U.S. currency trading, the U.S. dollar rose during U.S. trading hours after the March ISM Manufacturing Index, released yesterday, rebounded to 50.3 from the previous month’s 47.8, returning above the benchmark level of 50. The dollar also gained against the Japanese yen, which had been trading firm. The USD/JPY pair rose from 151.206 to 151.785.Following yesterday’s rise, USD/JPY is now just shy of this year’s high of 152 yen. We will be watching closely to see if the US dollar continues to rise while maintaining this momentum.

European currencies saw the euro fall sharply against the U.S. dollar.The EUR/USD pair fell from 1.0798 to 1.0731. The hourly RSI dropped below the oversold threshold of 30, falling to 18. On the 4-hour chart, the EUR/USD RSI has also fallen below 30, currently standing at 25. On the daily chart, the price has fallen to the -2σ level of the Bollinger Bands, so we need to watch closely to see if it finds support at the recent low of 1.0694.

Today’s schedule includes the release of the RBA meeting minutes at 9:30 AM, UK Nationwide house prices at 3:00 PM, Swiss retail sales at 3:30 PM, Swiss manufacturing PMI at 4:30 PM, UK manufacturing PMI and money supply at 5:30 PM, South African manufacturing PMI at 6:00 PM, and the GermanConsumer Price Index, at 11:00 PM the US JOLTS Job Openings and US Manufacturing Orders Index, at 11:10 PM remarks by US Federal Reserve Governor Bowman, at 1:00 AM remarks by US Federal Reserve Bank of New York President Williams, and at 1:05 AM remarks by US Federal Reserve Bank of Cleveland President Mester. We will closely monitor price movements to see if the US dollar strengthens in response to these key speeches.

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