Will market participants be keeping a close eye on price movements at the start of the week?

Will market participants be keeping a close eye on price movements at the start of the week?

08.07.2024

In the U.S. currency market the previous day, despite the June U.S. employment report released on the 5th showing that the unemployment rate worsened by 0.1 percentage points to 4.1% and nonfarm payrolls were revised downward from 272,000 in the previous month to 206,000, the U.S. dollar rose against the yen immediately after the release. The USD/JPY pair rose from 160.340 to 161.325. It then gradually retreated.On the 4-hour chart, the pair is trading below the 20-day moving average (MA), and on the daily chart, it is in the process of breaking below the 10-day MA, which had previously served as support.

European currencies rose, with the euro gaining against the U.S. dollar after the release of May retail sales data on the 5th showed a year-over-year increase of 0.3%, up from 0.0% the previous month.The EUR/USD pair rose from 1.0797 to 1.0842, establishing an uptrend along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is moving along the +2σ line of the Bollinger Bands, and on the daily chart, it has regained its position above the 200-period simple moving average (SMA).

Today’s economic indicators include Japan’s Monthly Labor Survey at 8:30 a.m., Japan’s Balance of Payments at 8:50 a.m., Japan’s Economic Watchers Survey at 2:00 p.m., Germany’s Trade Balance at 3:00 p.m., Mexico’s Consumer Price Index at 9:00 p.m., and remarks by MPC member Haskell of the UK at 1:15 a.m.With Fed Chair Powell’s congressional testimony scheduled for later this week, we will first closely monitor price movements at the start of the week.

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