Market participants are likely to keep a close eye on the movements of the U.S. dollar and the euro, which have shown contrasting trends against the Japanese yen.

Market participants are likely to keep a close eye on the movements of the U.S. dollar and the euro, which have shown contrasting trends against the Japanese yen.

27.08.2024

In the U.S. currency market yesterday, the U.S. dollar rose against the yen after the July U.S. durable goods orders, released yesterday, rebounded to a 9.9% increase from a 6.7% decline the previous month.The USD/JPY pair rose from 143.445 to 144.658, moving back above the 20-period moving average (MA) on the hourly chart. However, on the 4-hour chart, the pair continues to trade below the 20-MA, and on the daily chart, the downtrend that began on the 16th of this month remains intact.

European currencies fell against the yen after Germany’s August IFO Business Climate Index, released yesterday, declined to 86.6 from 87.0 the previous month. The euro/yen pair dropped by about 1 yen, from 161.501 to 160.506, trading below the 20-period moving average on the hourly chart. However, a rebound has been observed during today’s Asian trading session, with the pair already recovering to 161.876.

Today, at 8:50 AM, Japan’s Business Services Price Index; at 3:00 PM, Germany’s Real GDP; at 5:30 PM, Hong Kong’s Trade Balance; at 9:00 PM, Hungary’s Central Bank Policy Rate and Statement, and Mexico’s Trade Balance;at 10:00 PM, the U.S. Housing Price Index and the S&P/Case-Shiller Home Price Index; at 11:00 PM, the U.S. Conference Board Consumer Confidence Index and the Richmond Fed Manufacturing Index, along with remarks by German Bundesbank President Nagel; and at 2:00 AM, a U.S. 2-year Treasury auction.We will closely monitor the movements of the U.S. dollar and the euro, which have shown contrasting trends against the Japanese yen.

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