Should we watch for a rebound in the euro-dollar pair, which has been falling for four consecutive days?
25.03.2025
- U.S. Conference Board Consumer Confidence Index
- Germany's IFO Business Climate Index
With the US dollar generally weakening against the yen the previous day, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 103.959 to 105.487, rising along the 20-period moving average on the hourly chart.On the 4-hour chart, the pair broke through the 200-period simple moving average (SMA) line—which had appeared to act as resistance—without hesitation, and on the daily chart, it has set a new high for the month. We will need to monitor price movements during U.S. trading hours to see if the Canadian dollar’s strength continues.
Among European currencies, the euro fell against the U.S. dollar for the fourth consecutive day. The EUR/USD pair dropped from 1.0858 to 1.0782. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the downtrend along the 20-period MA continues, and on the daily chart, the price has fallen below the 10-period MA, which had appeared to be providing support. We will need to monitor the direction of the market to see if the euro’s decline continues during U.S. trading hours.
Today’s schedule includes the release of the Bank of Japan’s meeting minutes at 8:50 a.m., South Africa’s BER Consumer Confidence Index at 5:00 p.m., Germany’s IFO Business Climate Index at 6:00 p.m., remarks by Fed Governor Kugler at 9:40 p.m., the U.S. Housing Price Index and the S&P/Case-Shiller Home Price Index at 10:00 p.m., and remarks by Williams at 10:05 p.m.:Remarks by NY Fed President Williams, 11:00 PM: U.S. New Home Sales, U.S. Conference Board Consumer Confidence Index, U.S. Richmond Fed Manufacturing Index, and 1:00 AM: Remarks by German Bundesbank President Nagel. We will be watching for a rebound in the EUR/USD pair, which has been falling for four consecutive days.
Author: Keisuke Sakurai
