Will the market wait and see how currency strength plays out after the market closes?

Will the market wait and see how currency strength plays out after the market closes?

25.12.2024

In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 108.936 to 109.540. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 10-period MA is acting as a support level, while on the daily chart, the pair is currently attempting to break above the resistance line formed by the 200-period exponential moving average (EMA). It will be interesting to see if the Canadian dollar’s momentum holds after the Christmas holiday.

Among European currencies, the pound rose against the U.S. dollar.GBP/USD rose from 1.2518 to 1.2574. On the hourly chart, the pair rose from below the 20-period moving average (MA) to a level above the 75-period MA. However, on the 4-hour chart, resistance at the 20-period MA persists, indicating that the pair remains in a downtrend. On the daily chart, the RSI has fallen to 38 but still has room to drop further toward 30, so caution is warranted regarding a continued decline in the pound following this correction.

Today’s economic indicators include Japan’s Leading Economic Index at 2:00 PM, Japan’s Machine Tool Orders at 3:00 PM, Thailand’s Trade Balance at 3:30 PM, Turkey’s Capacity Utilization Rate and Turkey’s Manufacturing Confidence Index at 4:00 PM, India’s Money Supply at 8:30 PM, and Russia’s Industrial Production at 1:00 AM. Markets in Europe and the U.S. will be closed for the Christmas holiday.We intend to carefully monitor currency strength and weakness following the market closure.

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