Should investors be wary of the upside potential for the U.S. dollar, which rose following U.S. President Trump’s remarks about suspending tariffs?
10.04.2025
- Japan: Domestic Corporate Prices
- U.S. Consumer Price Index
In U.S. currency trading the previous day, the U.S. dollar strengthened toward the end of the U.S. trading session following reports that President Trump had announced a 90-day suspension of reciprocal tariffs. The EUR/USD pair fell from 1.1094 to 1.0914, moving from above the 20-period moving average (MA) on the hourly chart to below it.On the 4-hour chart, the pair has pulled back after being capped by the +2σ line of the Bollinger Bands, while on the daily chart, support at the 10-period moving average continues to hold.
Among European currencies, the pound rose against the US dollar. The GBP/JPY pair rose from 184.388 to 189.813.The pair rebounded to the 200-period EMA on the hourly chart. On the 4-hour chart, the RSI has risen from 19 to 54, while on the daily chart, the pair continues to trade below the 20-period MA. We will be watching to see if the pound’s rebound holds during European trading hours.
Today’s economic indicators include the UK RICS House Price Index at 8:01, Japan’s Domestic Corporate Goods Price Index at 8:50, Japan’s External/inbound securities investment at 8:50; remarks by RBA Governor Block at 19:00; South African manufacturing output at 20:00; U.S. initial jobless claims and the U.S. Consumer Price Index, as well as Canadian housing permits at 21:30;at 10:00 p.m., remarks by U.S. Federal Reserve Vice Chair Breeden; at 11:00 p.m., remarks by U.S. Federal Reserve Governor Bowman; and at 11:30 p.m., U.S. weekly natural gas inventories. Investors should watch for the upside potential of the U.S. dollar, which has risen following U.S. President Trump’s remarks regarding a tariff suspension.
