All eyes are on whether the U.S. dollar, which weakened toward the end of the month, will recover

All eyes are on whether the U.S. dollar, which weakened toward the end of the month, will recover

02.12.2024

Last weekend, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 151.527, breaking below the key 150-yen level to reach 149.471. The hourly RSI fell to 32. On the 4-hour chart, the downtrend along the 10-period moving average continued throughout last week, while on the daily chart, the price closed well below the 200-period moving average support line.However, the pair has shown signs of a rebound in early Asian trading today.

Among European currencies, the pound fell against the yen. The GBP/JPY pair dropped from 192.261 to 190.134. It breached the -3σ level on the hourly Bollinger Bands. On the 4-hour chart, the pair is trending gently lower along the 20-period moving average, while on the daily chart, the RSI has fallen to 33. On the weekly chart, however, the pair has not yet approached the lows seen in September of this year and remains above the support line provided by the 75-period moving average.

Today’s schedule includes Japan’s capital expenditure data at 8:50, Indonesia’s Manufacturing PMI at 9:30, Australia’s housing construction permits at 9:30, China’s Caixin Manufacturing PMI at 10:45, Switzerland’s retail sales at 16:30, Germany’s Manufacturing PMI at 17:50, Germany’s Manufacturing PMI at 17:55, the Eurozone’s Manufacturing PMI at 18:00,6:30 PM UK Manufacturing PMI, 7:00 PM Eurozone Employment Statistics, 11:45 PM US PMI Purchasing Managers' Index, 12:00 AM US Construction Spending, US ISM Manufacturing Index, and 29:00 AM remarks by Fed Governor Waller. We will carefully assess the direction of the market to see if the US dollar, which weakened at the end of the month, will recover.

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