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Should we be on the lookout for shifts in market sentiment due to overlapping economic indicator releases during U.S. trading hours?

Market Report

Should we be on the lookout for shifts in market sentiment due to overlapping economic indicator releases during U.S. trading hours?

05.03.2025

Today's Highlights
  1. Remarks by Uchida, Deputy Governor of the Bank of Japan
  2. U.S. ADP Employment Report

In U.S. currency trading yesterday, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 102.192 to 104.188. It recovered from the -2σ to the +3σ levels on the hourly Bollinger Bands.On the 4-hour chart, the price has shifted from below the 20-period moving average (MA) to above it, and on the daily chart, it appears to have been consolidating at lower levels over the past week. However, with a slew of economic indicators scheduled for release during today’s U.S. trading session, traders should remain vigilant regarding price movements during that time.

European currencies rose during U.S. trading hours as the euro gained ground following yesterday’s announcement that the Eurozone’s January unemployment rate improved by about 0.1 percentage points to 6.2% from 6.3% the previous month.The euro rose against the U.S. dollar from 1.0468 to 1.0626. A trend developed along the 20-period moving average on the hourly chart. On the 4-hour chart, the RSI surged to 78. On the daily chart, the pair has recovered to its highest level since mid-November of last year.

Today’s schedule includes remarks by Bank of Japan Governor Ueda at 9:00, Australia’s fourth-quarter GDP at 9:30,10:30: Remarks by Bank of Japan Deputy Governor Uchida; 13:45: Remarks by Japan’s Finance Vice Minister Mimura; 16:30: Swiss Consumer Price Index; 16:45: FrenchIndustrial Production, at 18:30 UK Non-Manufacturing PMI, at 19:00 Eurozone Producer Price Index, at 21:00 US MBA Mortgage Applications Index, at 22:15 US ADP Employment Report,at 10:30 p.m. Canada’s Labor Productivity Index, at midnight the U.S. ISM Non-Manufacturing PMI, and at 4:00 a.m. the U.S. Federal Reserve Beige Book. We should remain highly vigilant for potential shifts in market sentiment caused by the overlapping release of economic indicators during U.S. trading hours.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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