Will the U.S. dollar weaken in response to the U.S. jobs report and comments from key officials, or should we wait and see?

Will the U.S. dollar weaken in response to the U.S. jobs report and comments from key officials, or should we wait and see?

06.09.2024

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen despite the August ISM Non-Manufacturing Index, released yesterday, improving to 51.5 from 51.4 the previous month. The USD/JPY pair fell from 144.212 to 142.841.During today’s Asian trading session, the pair has extended its decline to 142.267. On the daily chart, the downtrend continues as the price touches the 20-day moving average, so traders should remain highly vigilant regarding price movements following today’s U.S. jobs report.

European currencies saw the pound fall against the yen after the UK’s August Construction PMI, released yesterday, declined to 53.6 from 55.3 the previous month. GBP/JPY fell from 189.776 to 188.605.During today’s Asian trading session, the pair extended its decline, touching 187.608. On the weekly chart, the 20-day moving average is acting as a solid resistance level, so traders should watch for further declines in the pound during U.S. trading hours.

Today’s economic indicators include the Japan Household Expenditure Survey at 8:30, the Philippines Unemployment Rate at 10:00, the Japan Tankan Survey at 14:00, and at 15:00, Germany’s Industrial Production and Trade Balance,at 3:45 PM: France’s Current Account Balance; at 6:00 PM: Eurozone’s Real GDP; at 9:30 PM: Canada’s Employment Statistics; at 9:30 PM: U.S. Employment Report; at 9:45 PM: Remarks by Williams, President of the New York Fed; at 11:00 PM: Canada’s Ivey PMI; and at 12:00 AM: Remarks by Waller, Member of the FOMC.I want to carefully monitor the market to see if the U.S. dollar will weaken in response to the U.S. employment report and remarks by key officials.

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