Should we focus on the upside potential of European currencies, which are showing signs of strength?
15.11.2022
- Number of New and Existing Home Sales
- Harker: Remarks by the President of the Federal Reserve Bank of Philadelphia
In yesterday’s U.S. trading session, the Canadian dollar rose against the yen as the yen weakened. The CAD/JPY pair rose by approximately 140 pips from 104.544 to 105.933, rebounding to just below the 20-period moving average on the 4-hour chart.The pair is attempting to rise again during today’s Asian session. Since it has been forming higher lows technically, if it breaks above the recent high of 105.933 with a solid candle on the 4-hour chart or longer timeframe, we would like to follow the upward trend.
European currencies rose against the yen as the year-on-year rate of industrial production in the Eurozone for September, released yesterday, surged to 4.9% from the market forecast of 2.9%.The EUR/JPY pair rose by approximately 180 pips, from 143.470 to 145.238. It showed a stronger rebound compared to U.S. currencies. Since the rebound is being supported by the 75-day moving average (MA) on the daily chart, we will be watching closely to see if the rebound continues into U.S. trading hours.
Today, at 4:00 PM, UK unemployment rate; at 4:45 PM, French CPI; at 7:00 PM, German ZEW Economic Sentiment Survey, Eurozone Q3 GDP, and Eurozone trade balance;at 10:30 PM: Canadian wholesale sales and Canadian manufacturing shipments; U.S. Producer Price Index and U.S. New York Fed Manufacturing Index; at 11:00 PM: Canadian existing home sales, remarks by U.S. Federal Reserve Governor Cook, and remarks by U.S. Federal Reserve Bank of Philadelphia President Harker; and at 12:00 AM: remarks by U.S. Federal Reserve Governor Barr.We should keep an eye on the upside potential of European currencies, which are currently showing strength.
Author: Keisuke Sakurai
Past Market Reports
22.04.2026
Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?
21.04.2026
With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall
20.04.2026
Will the market wait and see how much further the U.S. dollar can rise against the yen?
17.04.2026
Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.
16.04.2026
Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar
15.04.2026
Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?
14.04.2026
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
13.04.2026
Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?
10.04.2026
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?
09.04.2026
Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?
