Will the market wait and see if the Swiss franc’s rise continues?

Will the market wait and see if the Swiss franc’s rise continues?

05.02.2025

In yesterday’s U.S. currency markets, the U.S. dollar weakened against the euro. The euro rose against the dollar for the second consecutive day, climbing from 1.0272 to 1.0386. On the 4-hour chart, the pair has broken above the 200-day moving average (SMA) line, which had been acting as resistance, and on the daily chart, the upward trend continues after avoiding a new low from last month. We will be watching to see if the U.S. dollar continues to weaken.

Among European currencies, the Swiss franc rose slightly against the yen. The CHF/JPY pair rose from 169.668 to 171.024. A trend along the 20-period moving average (MA) on the hourly chart was observed.On the 4-hour chart, the candlesticks have extended to the resistance line of the 75-period moving average (MA), while the daily chart shows a return toward the centerline of the 20-period MA. However, as the Swiss franc has weakened during today’s Asian trading session, we should pay close attention to the direction of the market during European trading hours.

Today’s schedule includes New Zealand’s employment statistics at 6:45, South Korea’s Consumer Price Index at 8:00, Japan’s Monthly Labor Survey at 8:30, the Philippines’ Consumer Price Index at 10:00, China’s Caixin PMI at 10:45, Indonesia’s retail sales at 13:00, India’s Services PMI at 14:00, and France’sIndustrial Production, 5:50 PM: France Non-Manufacturing PMI, 5:55 PM: Germany Non-Manufacturing PMI, 6:00 PM: Eurozone Non-Manufacturing PMI, 6:30 PM: UK Non-Manufacturing PMI, 7:00 PM: EurozoneProducer Price Index at 21:00, U.S. MBA Mortgage Applications and Brazil Industrial Production at 21:00, U.S. ADP Employment Report at 22:15, U.S. Trade Balance and Canada International Merchandise Trade at 22:30, U.S. PMI Purchasing Managers' Index at 23:45, U.S. ISM Non-Manufacturing Index at 24:00, and U.S. Weekly Crude Oil Inventories at 24:30.We will carefully monitor the sustainability of the Swiss franc’s rise.

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