With U.S. markets closed, investors should be on the lookout for sudden spikes in volatility

With U.S. markets closed, investors should be on the lookout for sudden spikes in volatility

04.07.2024

In the U.S. currency market yesterday, the U.S. dollar fell against the yen after the number of new U.S. unemployment insurance claims, released yesterday, rose to 1.858 million from 1.839 million the previous week, and the U.S. June ADP employment figure, also released on the same day, deteriorated to 150,000 from 152,000. The USD/JPY pair fell from 161.950 to 160.759.The 75-period moving average on the hourly chart acted as support, and the pair subsequently rebounded. Since the pair has not managed to surpass yesterday’s high during today’s Asian session, we should remain cautious regarding price movements during the U.S. session.

European currencies rose against the yen after the Eurozone’s May Producer Price Index (PPI), released yesterday, improved year-over-year from -5.7% in the previous month to -4.2%. The euro/yen pair rose from 173.315 to 174.514. Price movements were observed along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the uptrend along the 10-period MA continues.

Today’s economic indicators include Australia’s trade balance at 10:30, Switzerland’s employment statistics at 14:45, Germany’s new manufacturing orders at 15:00, Switzerland’s consumer price index at 15:30, the UK’s construction PMI at 17:30, Brazil’s trade balance at 27:00, and the release of the minutes from the ECB Governing Council meeting at 20:30.Following yesterday’s shortened trading session, U.S. markets will be closed today. Please remain vigilant for sudden spikes in volatility.

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