All eyes are on whether the Swiss franc, which has strengthened against the U.S. dollar, will maintain its momentum
18.03.2025
- Japan's Tertiary Industry Activity Index
- Europe: Trade Balance
In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen despite the fact that Canada’s February housing starts, released yesterday, fell to 229,000 from 239,000 the previous month, missing the market forecast of 250,000. The CAD/JPY pair rose from 103.278 to 104.534, continuing its uptrend along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the price has extended just below the 200-period EMA, and on the daily chart, it has already broken through the upper resistance zone of the 20-period MA, indicating that the downtrend has paused.
Among European currencies, the Swiss franc strengthened against the U.S. dollar. The USD/CHF pair fell from 0.8852 to 0.8797. The price moved along the -2σ line of the hourly Bollinger Bands. On the 4-hour chart, the price broke below the 20-day moving average (MA), which had appeared to be providing support, with a real body candle, and on the daily chart, it is positioned just below the support line of the 200-day simple moving average (SMA).
Today's economic indicators include the Japan Tertiary Industry Activity Index at 1:30 p.m., the Eurozone ZEW Economic Sentiment Index and the Germany ZEW Economic Sentiment Index at 7:00 p.m., and the Eurozone Trade Balance at 7:00 p.m.,at 21:30, the Canadian Consumer Price Index, U.S. Housing Starts, and U.S. Import Price Index; at 22:15, U.S. Industrial Production and U.S. Capacity Utilization; and at 26:00, a U.S. 20-year Treasury auction. We will be watching price movements during European trading hours to see if the Swiss franc, which has strengthened against the U.S. dollar, can maintain its momentum.
Author: Keisuke Sakurai
