Will market participants keep a close eye on the Swiss franc’s potential for recovery after hitting a record low?

Will market participants keep a close eye on the Swiss franc’s potential for recovery after hitting a record low?

07.05.2025

In yesterday’s U.S. currency markets, the Canadian dollar fell against the yen after the April Ivey Purchasing Managers’ Index, released yesterday, came in lower than expected at 47.9, down from 51.3 the previous month. The CAD/JPY pair dropped from 104.198 to 103.249, following a decline along the 20-period moving average on the hourly chart.On the 4-hour chart, the pair is searching for direction just below the 200-period SMA, while on the daily chart, it is currently rebounding after touching the 75-period MA.

Among European currencies, the Swiss franc was the weakest alongside the U.S. dollar during U.S. trading hours. The CHF/JPY pair fell from 174.867 to 172.875. The decline followed the -3σ line of the hourly Bollinger Bands. On the 4-hour chart, the price broke below the 20-day moving average (MA), which had been providing support, with the body of the candle breaking through it. On the daily chart, the price has stalled just below the 20-day MA. We will need to monitor the direction closely to see if the Swiss franc continues to weaken during today’s U.S. trading hours.

Today’s economic indicators include New Zealand’s employment report at 7:45, Germany’s new manufacturing orders at 15:00, the UK’s construction PMI at 17:30, and Eurozone retail sales at 18:00,8:00 PM: U.S. MBA Mortgage Applications Index, 11:30 PM: U.S. Weekly Crude Oil Inventories, 3:00 AM: U.S. FOMC Interest Rate Decision and Statement, 3:30 AM: U.S. Fed Chair Powell Press Conference, and 4:30 AM: U.S. Consumer Credit Balance. We will carefully assess the potential for recovery in the Swiss franc, which has fallen to its weakest level.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed