Market participants remain cautious about the direction of the U.S. dollar amid U.S. employment data and comments from key officials

Market participants remain cautious about the direction of the U.S. dollar amid U.S. employment data and comments from key officials

06.12.2024

In yesterday’s U.S. currency trading, the dollar fluctuated against the yen. The USD/JPY pair traded between 149.662 and 150.732. Price action straddled the 20-period moving average (MA) on the hourly chart. Similarly, on the 4-hour chart, price action lacked direction just below the 20-period MA, while on the daily chart, the pair is currently facing resistance at the 200-period simple moving average (SMA).

Among European currencies, the euro rose against the U.S. dollar. The EUR/USD pair climbed from 1.0504 to 1.0587. An upward move was observed from the 20-period moving average on the hourly chart. On the 4-hour chart, the RSI rose from 39 to 69, and on the daily chart, the RSI has similarly returned to the midline. We will need to watch for comments from key officials during U.S. trading hours to see if the euro will continue to rise against the weakening U.S. dollar.

Today, at 2:00 PM, Japan’s Leading Economic Index; at 4:00 PM, Germany’s Industrial Production, Germany’s Trade Balance, and the UK’s Halifax House Price Index; at 4:45 PM, France’s Trade Balance and Current Account;at 7:00 PM, the Eurozone Q3 GDP; at 10:30 PM, the Canadian Employment Report and the U.S. Employment Report; at 11:15 PM, remarks by U.S. Federal Reserve Governor Bowman; at 12:00 AM, the Canadian Ivey PMI and the University of Michigan Consumer Sentiment Index; and at 12:30 AM, remarks by U.S. Federal Reserve Bank of Chicago President Goolsbee.We should remain highly vigilant regarding the direction of the U.S. dollar in light of 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