With April CPI rising by 0.4 percentage points, attention is turning to the strengthening Swiss franc

With April CPI rising by 0.4 percentage points, attention is turning to the strengthening Swiss franc

03.05.2024

In yesterday’s U.S. trading session, the Canadian dollar fell against the yen after Canada’s March international merchandise trade figures, released yesterday, deteriorated from the previous month’s CAD 1.39 billion to a deficit of CAD 2.28 billion. The CAD/JPY pair fell from 113.797 to 111.900, tracking a decline along the 10-period moving average on the hourly chart.During today’s Asian session, the pair is attempting to rebound despite very limited price movement. However, on the daily chart, the RSI has been trending downward from 83, so we should watch for the possibility of a continued decline.

European currencies saw the Swiss franc fluctuate against the yen after yesterday’s release of Switzerland’s April consumer price index, which rose to 1.4% year-on-year from 1.0% the previous month.The CHF/JPY pair fluctuated between 168.164 and 170.674, and on the 4-hour chart, it appears to be finding support below the 200-period simple moving average (SMA). We will need to carefully assess whether the Swiss franc will continue to rebound against the yen.

Today’s economic indicators include Singapore’s retail sales at 2:00 PM, France’s industrial production, fiscal balance, and manufacturing production index at 3:45 PM, Turkey’s consumer price index and producer price index at 4:00 PM, Hong Kong’s retail sales and the UK’s services PMI at 5:30 PM, and the Eurozone’sunemployment rate, at 21:00: Brazil’s industrial production, at 21:30: U.S. employment report, at 22:45: U.S. services PMI, and at 23:00: U.S. ISM Non-Manufacturing PMI. We intend to monitor the Swiss franc cautiously, as the April CPI rose by 0.4 points, signaling an upward trend.

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