Should we wait and see how the Swiss franc performs, given its limited upside potential?
27.02.2025
- U.S. Existing Home Sales
- European Consumer Confidence Index
In yesterday's U.S. currency trading, the dollar saw a seesaw battle against the yen. The USD/JPY pair traded between 148.630 and 149.878, with price action fluctuating around the 20-period moving average on the hourly chart.On the 4-hour chart, prices rebounded from the -2σ Bollinger Band, and the daily chart is showing similar price action to the 4-hour chart. We will need to watch for economic data releases and comments from key figures to see if any distinctive price movements emerge during U.S. trading hours.
Among European currencies, the Swiss franc fell against the yen. The CHF/JPY pair traded between 167.395 and 166.338. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, price action suggests the market is searching for direction just below the 20-period MA, while on the daily chart, the downtrend continues as the price faces resistance at the 10-period MA.We will keep a close eye on whether the Swiss franc continues to weaken during European trading hours.
Today’s schedule includes the NZ ANZ Business Confidence Index at 9:00, Turkey’s Trade Balance at 16:00, France’s Producer Price Index at 16:45, Switzerland’s Real GDP at 17:00, the Eurozone Money Supply at 18:00, South Africa’s Producer Price Index at 18:30, the Eurozone Consumer Confidence Index at 19:00, the EurozoneEconomic Sentiment Index, Mexico’s trade balance and Brazil’s employment statistics at 9:00 PM, U.S. initial jobless claims, Canada’s current account balance, U.S. real GDP, and U.S. durable goods orders at 10:30 PM, and remarks by U.S. Federal Reserve Vice Chair Barre and U.S. existing home sales at midnight. We will be closely monitoring the Swiss franc, whose upside appears limited.
Author: Keisuke Sakurai
