Will the Dollar-Yen Pair Hold Steady in the 162-Yen Range Amid a Decline in U.S. Jobless Claims?

Will the Dollar-Yen Pair Hold Steady in the 162-Yen Range Amid a Decline in U.S. Jobless Claims?

10.07.2026 New

In the U.S. currency market the previous day, the number of new unemployment insurance claims for the previous week fell to 215,000 from the previous week, highlighting the stability of the U.S. labor market.On the other hand, U.S. existing home sales for June fell to an annualized rate of 4.09 million, confirming weakness in the housing market. The dollar-yen pair traded within a range of 162.25 to 162.60 yen in the Tokyo session, settling in the mid-162.30 yen range as of 5:00 p.m.Currently, the pair is trading above the 162.00 level, with resistance likely around 162.50 to 163.00 and support around 162.00 to 161.50.While major U.S. economic indicators are limited today, Canada’s June employment report is scheduled for release, and we will be watching for the reaction of North American currencies.

Excessive concerns about the European economy eased somewhat as Germany’s May trade surplus widened and exports increased from the previous month.In addition, the minutes of the European Central Bank (ECB) Governing Council meeting indicated that inflation is expected to remain above target for some time, keeping attention focused on the future direction of monetary policy.The euro-dollar pair traded within a range of 1.1418 to 1.1448 in the Tokyo market and stood in the mid-1.1430s as of 5:00 p.m.Resistance is likely to be seen around 1.1450, while support is expected around 1.1400 to 1.1380; the immediate focus will be on whether the pair can hold above the low 1.14 level.Today, the revised June Consumer Price Index (CPI) figures for Germany and France are scheduled for release, and we will be watching to see how the euro reacts.

Today’s economic indicators include Germany’s June Consumer Price Index (CPI, revised) at 15:00, France’s June Consumer Price Index (CPI, revised) at 15:45, Switzerland’s June SECO Consumer Confidence Index at 16:00,Turkey’s May Industrial Production at 16:00, Mexico’s May Industrial Production at 21:00, Canada’s June Nonfarm Payrolls and June Unemployment Rate at 21:30, and Canada’s May Housing Starts at 21:30.In particular, during European trading hours, the revised CPI figures for Germany and France are likely to be key drivers, while during New York trading hours, the Canadian employment report will likely be a key factor; we will carefully monitor the reactions of the euro, U.S. dollar, Canadian dollar, and yen.