Caution Advised Amid Volatility in the U.S. Dollar Caused by Comments from Key Figures

Caution Advised Amid Volatility in the U.S. Dollar Caused by Comments from Key Figures

16.04.2024

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the release of U.S. March retail sales data showed a rise from 0.6% in the previous month to 0.7%, with the core index (excluding automobiles) rising from 0.3% to 1.1%. The USD/JPY pair rose from 152.949 to 154.446, with the rise tracking the 10-period moving average on the 4-hour chart.On the daily chart, the RSI has exceeded 70 and stands at 78, so we should be wary of volatility caused by comments from key figures during U.S. trading hours.

European currencies rose against the yen after yesterday’s release of February industrial production data showed a year-on-year decline of 6.4%, narrowing from the previous month’s 6.7% drop. The euro/yen pair climbed from 162.680 to 164.440, breaking above the 20-period moving average on the hourly chart. Although the pair briefly dipped below the 200-period moving average on the 4-hour chart, it has since recovered and broken back above it, so we will be watching for further upside momentum during European trading hours.

Today’s schedule includes: China’s new home sales at 10:30, China’s retail sales and industrial production at 11:00, Indonesia’s trade balance at 13:00, Germany’s wholesale price index and the UK’s employment statistics at 15:00, Germany’s ZEW economic sentiment index and the EU’s trade balance at 18:00,at 7:00 PM: Israel’s real GDP; at 9:30 PM: Canada’s Consumer Price Index and U.S. housing starts; at 10:15 PM: U.S. industrial production; at 11:30 PM: remarks by Nagel, President of the German Bundesbank; at 1:30 AM: remarks by Williams,Remarks by John Williams, President of the New York Fed; 2:00 AM: Remarks by Andrew Bailey, Governor of the Bank of England; 2:15 AM: Remarks by Jerome Powell, Chair of the Federal Reserve. Please be fully aware of potential volatility in the U.S. dollar caused by these key figures’ remarks.

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