Be on the lookout for changes in currency strength just before the monthly candle closes
30.05.2025
- Japan/Tokyo Consumer Price Index
- University of Michigan Consumer Sentiment Index
In the U.S. currency market yesterday, the U.S. dollar fell against the yen after the U.S. first-quarter GDP and personal consumption figures released yesterday came in at 1.2%, down from the previous reading of 1.8% and below market expectations of 1.8%.The USD/JPY pair fell from 146.289 to 143.970. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the RSI fell back from 71 to 45. On the weekly chart, the price has pulled back from the 10-period MA.
Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.3415 to 1.3506. It moved from below the 20-period moving average (MA) on the hourly chart to above it.On the 4-hour chart, the 75-period moving average (MA) is acting as a support level, triggering a rebound, and on the daily chart, an uptrend is beginning to form along the 20-period MA. We need to assess whether the pound will continue to hit new highs against the U.S. dollar.
Today’s schedule includes New Zealand housing construction permits at 7:45, Japan’s employment statistics and Tokyo Consumer Price Index at 8:30, Japan’s industrial production and department store/supermarket sales at 8:45; at 10:30, Australia’s housing construction permits; at 14:00, Japan’s housing starts; at 21:00, Germany’s Consumer Price Index; at 21:30, Canada’s real GDP, U.S. personal income, and U.S. wholesale inventories;at 22:45: U.S. Chicago Purchasing Managers’ Index; and at 23:00: U.S. University of Michigan Consumer Sentiment Index. While keeping an eye on end-of-month flows, I plan to carefully monitor price movements before the monthly candle closes.
Author: Keisuke Sakurai
