It remains to be seen whether the Canadian dollar, which has been performing strongly, will maintain its momentum during U.S. trading hours.

It remains to be seen whether the Canadian dollar, which has been performing strongly, will maintain its momentum during U.S. trading hours.

23.01.2024

In the U.S. session the previous day, the Canadian dollar weakened, causing the CAD/JPY pair to decline.The CAD/JPY pair fell from 110.393 to 109.679, briefly dipping below the 75-period moving average on the hourly chart. On the daily chart, a band walk along the +2σ line of the Bollinger Bands has been observed, and the RSI remains well above the 70 level. We will closely monitor whether the Canadian dollar rebounds against the yen following a period of consolidation.

Ahead of the ECB meeting this Thursday, the euro strengthened during U.S. trading hours. The EUR/AUD pair rose from 1.6486 to 1.6569, with the 10-day moving average acting as a support level. However, as the pair has shown signs of weakening again during today’s Asian trading session, we need to carefully assess whether the euro can regain momentum against the Australian dollar ahead of the ECB meeting the day after tomorrow.

Today’s schedule includes the Australian NAB Business Conditions Index at 9:30, Japanese supermarket sales and the Singapore Consumer Price Index at 14:00, the South African Leading Indicator and the Turkish Consumer Confidence Index at 16:00, UK public sector net debt at 16:30, Hungarian total wages atat 5:00 PM Taiwan’s Industrial Production, at 10:30 PM Canada’s New Home Price Index, at 12:00 AM the Eurozone Consumer Confidence Index and the U.S. Richmond Fed Manufacturing Index, at 3:00 AM the U.S. 2-Year Treasury Auction, and at 6:45 AM the following day New Zealand’s Q4 Consumer Price Index.We will carefully assess whether the Canadian dollar, which has been performing strongly, will maintain its momentum during U.S. trading hours.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed