Will remarks by key figures affect currency strength? Keep an eye on the market direction.

Will remarks by key figures affect currency strength? Keep an eye on the market direction.

02.04.2025

In yesterday’s U.S. currency trading, the dollar fell against the yen ahead of today’s remarks by the U.S. president. The USD/JPY pair dropped from 150.130 to 148.980, moving across 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 200-period simple moving average resistance line.

Among European currencies, the euro was the weakest during U.S. trading hours. The EUR/USD pair fell 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 just below the 20-period MA, while on the daily chart, it is currently searching for direction just below the 20-period 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 at 8:25, Australian housing construction permits at 9:30, the French budget balance at 15:45,the U.S. MBA Mortgage Applications Index at 8:00 PM, the U.S. ADP Employment Report at 9:15 PM, the U.S. Factory Orders Index at 11:00 PM, U.S. weekly crude oil inventories at 11:30 PM, remarks by U.S. President Trump at 1:00 AM, and remarks by U.S. Federal Reserve Governor Kugler at 1:30 AM.We should pay close attention to the market direction to see if these key figures’ remarks will cause any shifts in currency strength.