Will remarks by key figures cause shifts in currency strength? Keep an eye on the direction of the market.
02.04.2025
- Number of Housing Construction Permits in Australia
- Remarks by U.S. Federal Reserve Board Member Coogler
In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen ahead of today’s remarks by the U.S. president. The USD/JPY pair declined from 150.130 to 148.980, with price action straddling the 20-period moving average on the hourly chart.On the 4-hour chart, the pair is stagnating in the upper 149-yen range amid a cluster of short- and long-term moving averages, while on the daily chart, it has been unable to break above the overhead 200-SMA resistance line.
Among European currencies, the euro was the weakest during U.S. trading hours. The euro fell against the U.S. dollar from 1.0829 to 1.0778.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 price is finding support below the 20-MA, while on the daily chart, it is currently searching for direction just below the 20-MA. We need to carefully assess whether the euro’s decline will continue during U.S. trading hours.
Today’s economic indicators include New Zealand housing construction permits at 6:45, remarks by RBA Deputy Governor Kent of Australia at 8:25, Australian housing construction permits at 9:30, France’s budget balance at 15:45, the U.S. MBA Mortgage Applications Index at 20:00,at 21:15, the U.S. ADP Employment Report; at 23:00, the U.S. Manufacturing Orders Index; at 23:30, U.S. weekly crude oil inventories; at 29:00, remarks by U.S. President Trump; and at 29:30, remarks by U.S. Federal Reserve Governor Kugler.We should pay close attention to the market direction to see if these remarks from key figures will cause shifts in currency strength.
Author: Keisuke Sakurai
