Should we keep an eye on the pound’s upside potential?

Should we keep an eye on the pound’s upside potential?

15.04.2025

In the U.S. currency market yesterday, the Canadian dollar fell against the yen after Canada’s February wholesale sales, released yesterday, came in lower than expected, dropping from 1.2% to 0.3% month-over-month. The CAD/JPY pair fell from 103.854 to 102.656.The pair struggled to rise, capped by the 200-period SMA on the hourly chart. On the 4-hour chart, price action remained within the 20-period MA, while on the daily chart, the downtrend along the 75-period MA continues.

Among European currencies, the pound strengthened during U.S. trading hours, following the New Zealand dollar. The GBP/JPY pair rose while other yen crosses fell, climbing from 186.569 to 189.191. On the 4-hour chart, the candlesticks have recovered from trading below the 20-period moving average to above it, and on the daily chart, the pair has rebounded from the -2σ line of the Bollinger Bands. We will be watching price movements during European trading hours to see if the pound’s momentum continues.

Today’s economic indicators include UK BRC same-store sales at 8:01, the release of the RBA minutes at 10:30, UKEmployment Statistics at 15:00, the German and Eurozone ZEW Economic Sentiment Indexes and Eurozone Industrial Production at 18:00, Canadian Housing Starts at 21:15, Canadian Manufacturing Sales, the U.S. NY Fed Manufacturing Index, and the Canadian and U.S. Consumer Price Indexes and U.S. Import Price Index at 21:30, and Canadian Existing Home Sales at 22:00.We will closely monitor the upside potential of the rising pound.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed