Will the Swiss franc, which has been showing signs of weakness, weaken further by the end of the month? Keep an eye on the direction of the market.

Will the Swiss franc, which has been showing signs of weakness, weaken further by the end of the month? Keep an eye on the direction of the market.

30.08.2024

In yesterday’s U.S. currency markets, the U.S. dollar rose against the yen despite the fact that the U.S. second-quarter GDP, measured by the core PCE deflator, fell to 2.8% from the previous reading of 2.9%. The USD/JPY pair rose from 144.225 to 145.552. The 20-period moving average on the hourly chart acted as a support level, driving the price higher.While the 4-hour chart shows a similar price movement, the 10-day moving average is acting as a resistance level on the daily chart, causing the price to stall.

Among European currencies, the Swiss franc was the weakest. The CHF/JPY pair fell from 172.263 to 170.746, dropping approximately 150 pips to just below the 200-period SMA on the hourly chart. On the 4-hour chart, the 200-period SMA is acting as resistance, causing the price to pull back, while on the weekly chart, the price is trading below the 20-period MA but has been forming higher lows.Additionally, the weekly RSI has fallen from above 70 to 45, indicating a buffer for a potential decline, so caution is advised regarding price movements heading into the start of the month.

Today, New Zealand housing permits are scheduled for 7:45 a.m.,at 8:00 AM: South Korea’s Industrial Production, at 8:30 AM: Japan’s Employment Statistics, Japan’s Tokyo Consumer Price Index, and Japan’s Industrial Production, at 10:30 AM: Australia’s Retail Sales, at 3:45 PM: France’s Consumer Price Index, France’s Real GDP, and France’s Producer Price Index, at 4:00 PM: Switzerland’s KOF Leading Index, at 4:55 PM: Germany’sEmployment Statistics, 6:00 PM: Eurozone Consumer Price Index, 9:30 PM: Canada Real GDP, 9:30 PM: U.S. PCE Deflator, 10:45 PM: U.S. Chicago PMI, and 11:00 PM: U.S. University of Michigan Consumer Sentiment Index. We will be watching for any directional shifts, particularly whether the already weak Swiss franc will soften further toward the end of the month.

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