Should We Wait and See How Much the Euro-Pound, Which Has Continued to Fall, Will Rebound?
13.05.2025
- UK Employment Statistics
- Japan · Money Supply
In U.S. currency trading yesterday, the Canadian dollar rose sharply against the yen. The CAD/JPY pair climbed from 104.561 to 106.239, marking the start of a trend based on the 20-period moving average on the hourly chart.On the 4-hour chart, the RSI has surged to 74, and on the daily chart, the pair has hit a new high for the past two months. We’ll be watching the direction of the candlesticks to see if the Canadian dollar continues to rise against the yen during today’s U.S. trading session.
Among European currencies, the euro gapped down against the pound and fell.The euro-pound pair fell from 0.8457 to 0.8403. The price decline followed the 10-period moving average (MA) on the hourly chart. On the 4-hour chart, the candlesticks have fallen to the -3σ level of the Bollinger Bands, and on the daily chart, the price has reached the support line of the 200-period exponential moving average (EMA) and is currently attempting to break below it.
Today’s schedule includes the UK BRC same-store sales at 8:01, Japan’s money supply and the publication of opinions from the Bank of Japan’s Monetary Policy Meeting at 8:50, and Australia’sWestpac Consumer Confidence Index, at 10:30 the Australian NAB Business Confidence Index, at 15:00 the UK Employment Report, at 17:45 remarks by MPC member Pill, at 18:00 the GermanZEW Economic Sentiment Index, and at 18:30, South Africa’s employment data; at 21:30, the U.S. Consumer Price Index; and at 23:10, remarks by Bank of England Governor Bailey are scheduled. We want to carefully assess the potential for a rebound in the euro/pound pair, which has continued to decline.
Author: Keisuke Sakurai
