All eyes are on price movements during U.S. trading hours to see if the Canadian dollar, which has fallen against the yen, will rebound
25.04.2025
- Kashkari (U.S.): Remarks by the President of the Minneapolis Federal Reserve Bank
- Consumer Price Index for Tokyo's 23 Wards
In yesterday's U.S. currency trading, the Canadian dollar fell against the yen. The CAD/JPY pair fell back from 103.296 to 102.556. On the hourly chart, it dropped from the +2σ to the -3σ Bollinger Band. On the 4-hour chart, a pullback occurred just before the 200 SMA.On the daily chart, the pair is currently reversing after touching the 20-day moving average. We will closely monitor the direction to see if the Canadian dollar’s momentum continues to weaken.
Among European currencies, the pound rebounded against the U.S. dollar. The GBP/USD pair rose from 1.3243 to 1.3347. The rebound was supported by the 200-period EMA on the hourly chart. On the 4-hour chart, the price has moved from below the 20-period MA to above it, while on the daily chart, the 10-period MA is acting as a support level. However, as the pound has weakened during today’s Asian session, traders should keep a close eye on price movements during the European session.
Today’s economic indicators include remarks by Kashkari, President of the Federal Reserve Bank of Minneapolis, at 6:00 a.m.; the UK Consumer Confidence Survey at 8:01 a.m.; the Tokyo Metropolitan Area Consumer Price Index at 8:30 a.m.; UK Retail Sales at 3:00 p.m.; remarks by SNB President Schlegel at 5:00 p.m.; Canadian Retail Sales at 9:30 p.m.;23:00: University of Michigan Consumer Sentiment Index (U.S.), and 23:15: Remarks by MPC member Green (UK). We will be watching price movements during U.S. trading hours to see if the Canadian dollar, which has fallen against the yen, will stage a rebound.
Author: Keisuke Sakurai
