Should we watch for a rebound in the Swiss franc, which has been facing resistance at higher levels?
14.02.2025
- Europe: Real GDP
- Germany's Wholesale Price Index
In yesterday's U.S. currency trading, the Canadian dollar edged lower against the yen. The CAD/JPY pair fell from 108.309 to 107.358. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the 200-period simple moving average (SMA) is acting as resistance, while on the daily chart, the 75-period MA is serving as a resistance zone. We will be watching to see if the Canadian dollar continues to weaken against the yen.
European currencies saw the Swiss franc weaken against the yen after yesterday’s release of Switzerland’s January Consumer Price Index (CPI), which showed a year-on-year decline of 0.4%, down 0.2 percentage points from the previous month’s 0.6%. The CHF/JPY pair fell from 169.746 to 168.756, breaking the uptrend along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the RSI has pulled back after touching 70, and on the daily chart, the price has reversed direction at the 20-day moving average.
Today’s schedule includes Japan’s domestic and foreign securities investment at 8:50, Singapore’s real GDP at 9:00, India’s wholesale price index at 15:30, Germany’s wholesale price index at 16:00, Switzerland’s producer import prices at 16:30, the Eurozone’s real GDP at 19:00,at 7:30 PM, Russia’s key interest rates; at 10:30 PM, Canada’s manufacturing sales, U.S. retail sales, and U.S. import price index; at 11:15 PM, U.S. industrial production; at 1:00 AM, Russia’s consumer price index; and at 5:00 AM, remarks by Logan, President of the Dallas Federal Reserve. We will be watching for any rebound in the Swiss franc, which has been facing resistance on the upside.
Author: Keisuke Sakurai
