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 the U.S. currency market yesterday, 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 candlesticks rose to the +3σ level of the Bollinger Bands.On the daily chart, the price rise along the 20-period moving average is evident. 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 rise followed the 10-period moving average (MA) on the hourly chart.On the 4-hour chart, an uptrend along the 10-period moving average (MA) is evident, and on the daily chart, the pound has risen for six consecutive days, setting 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, the Germany GfK Consumer Confidence Index at 15:00, the Eurozone Consumer Confidence Index and Eurozone Economic Sentiment Index at 18:00, U.S. Durable Goods Orders at 21:30, and the U.S.U.S. Housing Price Index, U.S. S&P/Case-Shiller Home Price Index; at 23:00, the U.S. Conference Board Consumer Confidence Index; at 23:30, the U.S. Dallas Fed Manufacturing Activity Index; and at 25:20, remarks by Swiss National Bank (SNB) President Schlegel.I want to carefully monitor the upside potential of the pound, which has been rising.
Author: Keisuke Sakurai
