Should We Watch for Further Gains in the Euro Against the Dollar?
26.05.2025
- Japan Economic Sentiment Index
- Markets in the U.K. and U.S. are closed for a holiday
Last weekend, the Canadian dollar fluctuated against the yen as Canada’s March retail sales figures, released on the 23rd, rebounded from a 0.4% decline to a 0.8% increase.The CAD/JPY pair traded between 102.998 and 103.943, fluctuating around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair has remained range-bound within a zone where short- and long-term MAs converge, while on the daily chart, it is currently searching for direction below the 20-period MA.
European currencies rose as the euro strengthened against the U.S. dollar following Friday’s release of Germany’s first-quarter real GDP, which improved from a year-over-year decline of 0.2% to 0.0%.The EUR/USD pair rose from 1.1276 to 1.1375. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price rebounded after touching the 20-period MA, and on the daily chart, the RSI has recovered to 60.
Today’s economic indicators include the Japanese Economic Sentiment Index at 14:00, remarks by German Bundesbank President Nagel at 22:30, and remarks by ECB President Lagarde at 23:30.Please note that markets in the U.S. and the U.K. will be closed today due to public holidays. I intend to carefully monitor the euro/dollar pair to see if it can sustain its recent gains.
