Should we keep an eye on the upside potential of the rising pound?
27.05.2025
- European Consumer Confidence Index
- U.S. Conference Board Consumer Confidence Index
In yesterday's U.S. currency trading, the U.S. dollar weakened against the euro. The EUR/USD pair rose from 1.1360 to 1.1419. The rise followed the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the price rose to the +3σ level of the Bollinger Bands. On the daily chart, the price increase aligns with the 20-period MA. We will be watching to see if the U.S. dollar continues to weaken during today's European trading session.
Among European currencies, the pound strengthened against the U.S. dollar. The GBP/USD pair rose from 1.3519 to 1.3593. The pair showed an upward movement along the 10-period moving average (MA) on the hourly chart. An uptrend along the 10-period MA is visible on the 4-hour chart, and the pair has extended its gains for six consecutive days on the daily chart. It has now reached a new high for the month. We will be watching closely to see if the pound continues to hit new highs during U.S. trading hours.
Today’s economic indicators include the Japan Corporate Services Price Index at 8:50 a.m., the Germany GfK Consumer Confidence Index at 3:00 p.m., the Eurozone Consumer Confidence Index at 6:00 p.m., the EurozoneBusiness Climate Index, U.S. Durable Goods Orders at 9:30 PM, U.S. Housing Price Index and S&P/Case-Shiller Home Price Index at 10:00 PM, U.S. Conference Board Consumer Confidence Index at 11:00 PM, U.S. Dallas Fed Manufacturing Activity Index at 11:30 PM, and remarks by Swiss National Bank (SNB) President Schlegel at 1:20 AM.We want to closely monitor the upside potential of the rising pound.
Author: Keisuke Sakurai
