Market participants may be waiting to see how much further the Swiss franc will fall
17.06.2025
- U.S. Industrial Production
- Germany's ZEW Economic Sentiment Index
In yesterday's U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair traded between 105.828 and 106.730. The pair rose, supported by the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the uptrend continues, and the pair has reached the +2σ line of the Bollinger Bands.On the daily chart, the pair is currently attempting to break above the 200-day SMA resistance line. We will be watching closely to see if the Canadian dollar’s upward momentum continues.
Among European currencies, the Swiss franc weakened from European to U.S. trading hours. The CHF/JPY pair fell from 178.175 to 177.404. It dropped from the +3σ line of the hourly Bollinger Bands to the centerline. On the other hand, the uptrend along the 10-period moving average on the 4-hour chart remains intact, and on the daily chart, the RSI has risen to just below 70, the overbought threshold.We will be watching closely to see if the Swiss franc’s upside is capped during today’s European trading session.
Today’s key economic indicators include the Bank of Japan’s policy rate decision and statement around noon, a press conference by BOJ Governor Ueda at 3:30 p.m., the German and Eurozone ZEW Economic Sentiment Indexes at 6:00 p.m., Canadian International Securities Turnover at 9:30 p.m., U.S. Retail Sales at 9:30 p.m.,U.S. Import Price Index, at 10:15 PM: U.S. Industrial Production, at 11:00 PM: U.S. Business Inventories and U.S. NAHB Housing Market Index, and at 7:45 AM the following day: NZ Current Account. We intend to carefully monitor the downside potential of the weakening Swiss franc.
Author: Keisuke Sakurai
