All eyes are on the direction of the U.S. dollar, which has been volatile following remarks by Federal Reserve Chair Powell

All eyes are on the direction of the U.S. dollar, which has been volatile following remarks by Federal Reserve Chair Powell

04.04.2024

In yesterday’s U.S. trading session, the U.S. dollar fluctuated sharply against the yen after Federal Reserve Chair Powell stated that “we need to carefully assess whether the recent inflation data is temporary,” effectively avoiding a clear indication of when interest rates might be cut. The USD/JPY pair traded between 151.445 and 151.953 before falling back in late U.S. trading.With resistance remaining strong during today’s Asian session, we will need to carefully monitor price movements during the European session.

Despite the fact that the unemployment rate in the Eurozone’s February employment statistics, released yesterday, worsened by 0.1 percentage points from 6.4% the previous month to 6.5%, the euro rose against the yen. The euro/yen pair rose from 163.069 to 164.367.During today’s Asian trading session, the pair has continued its upward trend, reaching 164.525. We will be watching to see if EUR/JPY continues to climb toward its recent high of 165 yen.

Today’s schedule includes the Swiss Consumer Price Index at 3:30 PM, the French Services PMI at 4:50 PM, the German Services PMI at 4:55 PM, the Eurozone Services PMI at 5:00 PM, the UK Services PMI at 5:30 PM, the Eurozone Producer Price Index at 6:00 PM, and the EurozoneECB Governing Council Meeting Minutes, 9:30 PM: Canada Trade Balance, U.S. Initial Jobless Claims, U.S. Trade Balance,23:00: US – Remarks by Harker, President of the Philadelphia Fed; 23:30: US – Weekly Natural Gas Inventories; 25:15: US – Remarks by Barkin, President of the Richmond Fed; 27:00: US – Remarks by Mester, President of the Cleveland Fed.We want to carefully assess the direction of the U.S. dollar, which has been volatile following remarks by Fed Chair Powell.

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