Should we keep an eye on the upside potential of the Swiss franc, now the world’s strongest currency?

Should we keep an eye on the upside potential of the Swiss franc, now the world’s strongest currency?

07.06.2024

Yesterday, the three major U.S. stock indices saw mixed performance, resulting in a market environment characterized by flat stock prices, lower interest rates, and higher crude oil prices. WTI crude oil rose to $75.70. Natural gas also rose, trading around $2.80. Among the five major precious metals, all but palladium rose; palladium was the only one to decline, falling 1.4% from the previous day to the $931 range.

In the foreign exchange market, the Swiss franc emerged as the strongest currency during U.S. trading hours. The CHF/JPY pair rose from 174.402 to 175.363. The rise followed the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the price is trading above the 10-period MA, and on the daily chart, a band walk along the +2σ line of the Bollinger Bands has been observed. We will be watching the direction of the Swiss franc to see if prices continue to rise during European trading hours.

Today’s economic indicators include the Japan Household Expenditure Survey at 8:30, Thailand’s Consumer Price Index at 12:30, India’s central bank policy rate at 13:30, Japan’s Economic Trends Survey at 14:00, Germany’s industrial production and trade balance at 15:00, France’s trade balance and current account balance at 15:45,at 6:00 PM: Eurozone Real GDP; at 9:00 PM: Mexico Consumer Price Index; at 9:30 PM: U.S. Employment Report, Canada Employment Report, and Canada Capacity Utilization; at 11:00 PM: U.S. Wholesale Inventories; at 11:15 PM: Remarks by ECB President Lagarde; and at 1:00 AM: Remarks by Fed Governor Cook.We would like to focus on the upside potential of the Swiss franc, which has become the strongest currency.

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