All eyes are on whether the euro, which has been under pressure from the pound, will show signs of a rebound

All eyes are on whether the euro, which has been under pressure from the pound, will show signs of a rebound

13.02.2023

Last weekend, the Canadian dollar emerged as the strongest currency following the release of Canada’s January employment report, which showed the unemployment rate had fallen to 5.0%. The CAD/JPY pair rose by approximately 2 yen, from 96.623 to 98.553.During today’s Asian trading session, the trend from last weekend has continued, with the yen remaining weak. From a technical perspective, the CAD/JPY pair has broken above the 20-day moving average (MA) and is forming higher lows. Since the +3σ line of the Bollinger Bands is trending upward, we should watch for a continued rise.

Among European currencies, the pound rose against the euro. The EUR/GBP pair fell from 0.8871 to 0.8823. A downtrend has emerged along the 10-period moving average (MA) on the 4-hour chart. Although the EUR/GBP pair briefly dipped below the 200-period simple moving average (SMA) on the 4-hour chart during last weekend’s decline, it ultimately found support there. Therefore, we should remain cautious regarding the direction of the market, as a rebound could occur and potentially push prices above recent highs.

Today’s economic indicators include Turkey’s current account balance at 4:00 PM CET, Switzerland’s CPI and Hungary’s industrial production at 4:30 PM CET, India’s CPI at 9:00 PM CET, remarks by Fed Governor Bowman at 10:00 PM ET, the Philippines’ current account balance, and the U.S. 6-month bill auction at 1:30 AM ET.We will be watching closely to see if the euro, which has been under pressure from the pound, can stage a rebound.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

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

4. 16.04.2026New

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

5. 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

6. 14.04.2026

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

7. 13.04.2026

   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

8. 10.04.2026

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

9. 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?

10. 08.04.2026

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