Should we wait and see if the euro-pound pair, which has continued to fall, has room to rebound?
13.05.2025
- UK Employment Statistics
- Japan · Money Supply
In yesterday’s U.S. trading session, the Canadian dollar rose sharply against the yen. The CAD/JPY pair climbed from 104.561 to 106.239. A trend has emerged, with the 20-period moving average on the hourly chart serving as the starting point. 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 will 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. The EUR/GBP 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 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, Australia’s Westpac Consumer Confidence Index at 9:30, Australia’s NAB Business Confidence Index at 10:30, UKEmployment Report at 15:00, remarks by UK MPC member Pill at 17:45, the German ZEW Economic Sentiment Index at 18:00, the South African Employment Report at 18:30, the US Consumer Price Index at 21:30, and remarks by UK BOE Governor Bailey at 23:10. We will carefully assess the potential for a rebound in the euro-pound pair, which has continued to decline.
Author: Keisuke Sakurai
