Should we keep a close eye on the direction of the rising Swiss franc?

Should we keep a close eye on the direction of the rising Swiss franc?

07.08.2024

In yesterday’s U.S. trading session, the Canadian dollar saw a seesaw movement against the yen. The CAD/JPY pair traded between 103.932 and 105.979. Price action saw the pair move above the 20-period moving average (MA), with resistance capped by the 75-period MA on the hourly chart. On the 4-hour chart, the pair is trading just below the 10-period MA, and on the daily chart, the RSI stands at 11. We will be watching to see if the Canadian dollar stages a rebound during European trading hours.

Among European currencies, the Swiss franc rose slightly against the yen. The CHF/JPY pair traded between 168.564 and 171.135, fluctuating between the 20-period and 75-period moving averages on the hourly chart. On the 4-hour chart, the pair broke above the 20-period moving average—which had been acting as resistance—during today’s Asian trading session. We will be watching closely to see if the Swiss franc continues to strengthen against the yen.

Today’s economic indicators include South Korea’s current account balance at 8:00, Thailand’s consumer price index at 12:30, Japan’s economic sentiment index at 14:00, Germany’strade balance and industrial production, France’s current account balance and trade balance at 15:45, the U.S. MBA Mortgage Applications Index at 20:00, Canada’s Ivey PMI at 23:00, U.S. weekly crude oil inventories at 23:30, the U.S. 10-year Treasury auction at 26:00, and U.S. consumer credit balances at 28:00.We want to carefully assess the direction of the rising Swiss franc.

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