Market participants may be on alert for price fluctuations caused by a flurry of statements from key figures during U.S. trading hours

Market participants may be on alert for price fluctuations caused by a flurry of statements from key figures during U.S. trading hours

18.10.2024

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen despite the fact that U.S. industrial production for September, released yesterday, fell to -0.3% from 0.8% the previous month.The USD/JPY pair rose from 149.243 to 150.322, moving upward along the 20-period moving average on the hourly chart. However, during today’s Asian session, the pair has already fallen back to around half of yesterday’s gains, so we should exercise caution in assessing whether the dollar will continue to rise during U.S. trading hours.

European currencies weakened against the dollar during U.S. trading hours after the European Central Bank (ECB) cut its policy rate by 0.25 percentage points from 3.65% to 3.4% at its monetary policy meeting announced yesterday. The euro fell from 1.0873 to 1.0811 against the dollar, declining along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the 10-period moving average is acting as resistance, and the daily chart has recorded four consecutive bearish candles.

Today’s schedule includes Japan’s Consumer Price Index at 8:50, Japan’s Foreign and Domestic Securities Investment at 8:50, China’s New Home Sales Prices at 10:30, China’s Real GDP and Industrial Production at 11:00, UK Retail Sales at 15:00, the Eurozone Current Account at 17:00,at 5:30 PM Hong Kong Employment Statistics, at 6:00 PM Eurozone Construction Output, at 9:30 PM US Housing Starts, at 10:30 PM US remarks by Bostic, President of the Atlanta Fed, at 11:00 PM US remarks by Kashkari, President of the Minneapolis Fed, and at 1:10 AM US remarks by Waller, Federal Reserve Governor.Be on the lookout for price fluctuations caused by overlapping remarks from key officials during U.S. trading hours.

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