Will the euro, which has risen slightly, continue to gain ground during European trading hours? Market participants are watching for signs of its direction.

Will the euro, which has risen slightly, continue to gain ground during European trading hours? Market participants are watching for signs of its direction.

28.10.2024

Last weekend, the Canadian dollar saw mixed trading against the yen after Canada’s August retail sales figures, released on the 25th, showed a decline from 0.9% in the previous month to 0.4%. The CAD/JPY pair traded between 109.342 and 109.930. Price action straddled the 20-period moving average (MA) on the hourly chart. Similarly, on the 4-hour chart, the pair remained stuck just below the 20-period MA.

European currencies saw the euro rise slightly against the yen after the German IFO Business Climate Index, released on the 25th, improved to 86.5 from 85.4 the previous month. The euro/yen pair rose from 163.943 to 164.787, moving from below the 20-period moving average on the hourly chart to above it. Furthermore, a strong rally has been observed during today’s Asian trading session, with the pair already surging to 166.017.

Today’s economic indicators include Thailand’s trade balance at 12:30, Sweden’s trade balance at 16:00, Hong Kong’s trade balance at 17:30, the UK’s CBI retail sales at 20:00, Mexico’s trade balance at 21:00,the Dallas Fed Manufacturing Index at 11:30 PM, the U.S. 6-month Treasury bill auction at 12:30 AM, and remarks by Bank of Canada Governor McClem at 2:30 AM. We will be watching closely to see if the euro, which has risen slightly, continues to gain ground during European 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