We must remain vigilant to see if remarks by key figures will cause fluctuations in the U.S. dollar

We must remain vigilant to see if remarks by key figures will cause fluctuations in the U.S. dollar

03.12.2024

In yesterday’s U.S. currency trading, the U.S. dollar rose against the euro. The EUR/USD pair fell from 1.0567 to 1.0462, breaking below the support line of the 200-period simple moving average (SMA) on the hourly chart. Additionally, the 4-hour chart shows a decline along the -2σ line of the Bollinger Bands. On the daily chart, the pair has pulled back after touching the 20-period moving average (MA), so we will be watching for a continued rise in the U.S. dollar during European trading hours.

European currencies fell as the Swiss franc weakened against the yen following yesterday’s release of Swiss October retail sales, which declined to 1.4% year-on-year from 2.2% the previous month, and the release of November manufacturing data, which also came in below market expectations. The CHF/JPY pair fell from 170.338 to 168.226, forming a downtrend along the 20-period moving average on the hourly chart.On the 4-hour chart, the downward slope is even more pronounced, with the price trending lower along the 10-period moving average.

Today’s schedule includes Australia’s Q3 current account balance at 9:30, Switzerland’s CPI at 16:30, Hungary’s final GDP at 16:30, France’s fiscal balance at 16:45, Brazil’s IPC-Fipe CPI at 17:00, South Africa’s GDP at 18:00,at 9:00 PM Brazil’s GDP, at midnight U.S. JOLTS Job Openings, at 2:35 AM remarks by U.S. Federal Reserve Governor Kuehler, and at 5:45 AM remarks by U.S. Chicago Fed President Goolsbee. We should remain vigilant to see if these key speeches will cause any shifts in the U.S. dollar’s price movements.

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