Market Watchers to Keep an Eye on Upside Potential for the U.S. Dollar, Which Rallied on Strong U.S. JOLTS Job Openings Data

Market Participants May Keep an Eye on the Upside Potential of the U.S. Dollar, Which Rallied on Strong U.S. JOLTS Job Openings Data

12.03.2025

In the U.S. currency market yesterday, the U.S. dollar rose against the yen after the U.S. January JOLTS job openings figure, released yesterday, came in at 7.74 million—exceeding market expectations of 7.67 million and rising from the previous month’s 7.60 million.The USD/JPY pair rose from 146.553 to 148.119. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price has recovered from the -2σ to the +2σ levels of the Bollinger Bands, and on the daily chart, the RSI has rebounded from the 30 level.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair traded between 166.808 and 168.272. Price action was seen fluctuating around the 20-period moving average on the hourly chart.On the 4-hour chart, the pair is rising while forming higher lows, and on the daily chart, it appears poised to break above the 20-day moving average, which had previously acted as resistance. We will be watching price action during U.S. trading hours to see if the Swiss franc continues to strengthen against the yen.

Today’s key economic indicators include Japan’s First-Quarter Business Sentiment Index (BSI) at 8:50, remarks by ECB President Lagarde at 17:45, the U.S. MBA Mortgage Applications Index at 20:00, the U.S. Consumer Price Index at 21:30, and Canada’sBOC policy rate and statement, remarks by German Bundesbank President Nagel, at 23:30: U.S. weekly crude oil inventories and a press conference by BOC Governor McClem, at 26:00: U.S. 10-year Treasury auction, and at 27:00: U.S. budget balance.We will be keeping a close eye on the upside potential of the U.S. dollar, which rose on the back of strong U.S. JOLTS job openings data.