Should investors be wary of downside potential for the Swiss franc, which has faced resistance at the PPI?

Should investors be wary of downside potential for the Swiss franc, which has faced resistance at the PPI?

15.10.2024

In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 108.205 to 108.721. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price has rebounded from the 75-period MA, and on the daily chart, it is finding support at the 10-period MA. We will need to watch price movements during European trading hours to see if the Canadian dollar continues to rise against the yen.

European currencies saw the Swiss franc weaken against the yen yesterday following the release of Switzerland’s September Producer Price Index (PPI), which fell to -0.1% from 0.2% the previous month. The CHF/JPY pair dropped from 174.075 to 173.420. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it.On the 4-hour chart, the RSI has fallen from 62 to 49, and on the daily chart, the pair is currently undergoing a corrective decline within an uptrend.

Today’s schedule includes Japan’s Industrial Production at 1:30 PM, Sweden’s Consumer Price Index and the UK’s Employment Statistics at 3:00 PM, France’s Consumer Price Index at 3:45 PM, Germany’s ZEW Economic Sentiment Index and the Eurozone’s ZEW Economic Sentiment Index at 6:00 PM, South Africa’s SACCI Economic Sentiment Index at 6:30 PM,at 9:30 PM, Canada’s Consumer Price Index, the U.S. New York Fed Manufacturing Index, and Canada’s Wholesale Sales; at 12:30 AM, remarks by San Francisco Fed President Daily; and at 2:00 AM, remarks by Fed Governor Kuehler. We should remain highly vigilant regarding the downside potential for the Swiss franc, which has faced resistance on the upside due to PPI data.

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