Will the euro, now the strongest currency, continue to rise during U.S. trading hours? All eyes are on whether this trend will hold.
04.03.2025
- Japan: Capital Expenditures in the Fourth Quarter
- NZ・Residential Building Permits
In the U.S. currency market yesterday, the U.S. dollar fell against the yen despite the February U.S. PMI (Purchasing Managers' Index) recovering from 51.6 to 52.7. Unlike other yen crosses, USD/JPY fell from 151.297 to 149.112. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it.On the 4-hour chart, prices are rebounding from the 75-period moving average (MA), which is acting as a resistance level. On the daily chart, prices are falling as they retest the support line of the 200-period simple moving average (SMA), which they had already broken below.
European currencies made significant gains during U.S. trading hours. The EUR/USD pair rose from 1.0389 to 1.0505. The price broke above the resistance line formed by the 200-period simple moving average (SMA) on the hourly chart with a solid candle. On the 4-hour chart, the price appears to be rebounding from the 200-period moving average (MA), while on the daily chart, it has been trading within the same price range for approximately 10 business days. We will be watching to see if the euro’s upward trend continues.
Today’s economic indicators include New Zealand housing permits at 6:45, Japan’s employment statistics at 8:30, Japan’s fourth-quarter capital expenditure and monetary base at 8:50, Australia’s current account balance at 9:30,Australia’s Retail Sales, South Korea’s Manufacturing PMI, and the release of the RBA minutes; at 14:00, Japan’s Consumer Sentiment Index; at 16:45, France’s Budget Balance; at 18:30, South Africa’s Real GDP; at 19:00, the Eurozone’s Employment Statistics; and at 28:20, remarks by Williams, President of the New York Fed.We will be closely monitoring whether the euro, now the strongest currency, continues to rise during U.S. trading hours.
Author: Keisuke Sakurai
