Will the renewed trend toward a stronger yen continue? All eyes are on price movements during U.S. trading hours.
11.04.2025
- UK Manufacturing Output
- U.S. Producer Price Index
In the previous day’s U.S. currency trading, the U.S. dollar was the weakest currency from European trading hours through U.S. trading hours.The EUR/USD pair rose from 1.0932 to 1.1240. An uptrend developed along the 10-period moving average (MA) on the hourly chart. On the 4-hour chart, a band walk along the +3σ line of the Bollinger Bands was observed, and the pair has continued to hit new highs during today’s Asian session.
Among European currencies, the pound fell against the yen. The GBP/JPY pair dropped from 189.593 to 186.364.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 pair is fluctuating around the 187-yen psychological level, while on the daily chart, the RSI is hovering around 40 as the market searches for direction. We will be watching closely to see if the pound’s weakness continues into U.S. trading hours.
Today’s schedule includes Japan’s money supply at 8:50, the UK’s monthly GDP and Germany’s consumer price index at 15:00, and the UK’sIndustrial Production, UK Manufacturing Output, and UK Trade Balance; at 18:45, remarks by ECB President Lagarde; at 21:30, US Producer Price Index; at 23:00, US University of Michigan Consumer Sentiment Index, and remarks by US Federal Reserve’s Musalem:St. Louis Fed President, and at 24:00, remarks by U.S. Fed President Williams: New York Fed President. We will carefully monitor price movements during U.S. trading hours to determine whether the recent trend toward a stronger yen will continue.
Author: Keisuke Sakurai
