Market participants are keeping a close eye on the upside potential of the Swiss franc, which rebounded sharply at the end of the month
01.08.2025
- UK Nationwide House Prices
- MIS Manufacturing Index
In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the June PCE deflator—including the core index—was released yesterday, showing increases both year-over-year and month-over-month. The USD/JPY pair rose from 148.592 to 150.842, with a sharp surge observed from the 20-period moving average on the hourly chart.On the 4-hour chart, a band walk along the +2σ line of the Bollinger Bands was confirmed, while on the daily chart, the RSI rose from 60 to 70. The pair broke above the key 150 yen level and set a new high for the month.
Among European currencies, the Swiss franc emerged as the strongest performer during U.S. trading hours. The CHF/JPY pair rose from 182.657 to 185.695, rebounding sharply from the -3σ to the +2σ levels of the Bollinger Bands. On the 4-hour chart, the 200-period SMA is acting as a support level, triggering a rebound, while on the daily chart, the candlestick—which had been trading below the 20-period MA—has swung back above it.We will be closely monitoring whether the Swiss franc continues to extend its gains during today’s U.S. trading session.
Today’s economic indicators include Japan’s unemployment rate at 8:30, Australia’s Q2 Producer Price Index at 10:30, the UK’s Nationwide House Price Index at 15:00, France’s Manufacturing PMI at 16:50, Germany’s Manufacturing PMI at 16:55, the Eurozone’s Manufacturing PMI at 17:00,UK Manufacturing PMI at 5:30 PM, Eurozone Consumer Price Index at 6:00 PM, US Employment Report at 9:30 PM, US Manufacturing PMI at 10:45 PM, US ISM Manufacturing PMI at 11:00 PM, and the University of Michigan Consumer Sentiment Index at 11:00 PM. We want to carefully assess the upside potential for the Swiss franc, which rebounded sharply at the end of the month.
Author: Keisuke Sakurai
