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Attention Turns to the Euro’s Potential for Recovery Amid Weakness

Market Report

Attention Turns to the Euro’s Potential for Recovery Amid Weakness

02.06.2025

Today's Highlights
  1. Japan · Capital Expenditures
  2. European Manufacturing PMI

Last weekend, the U.S. dollar rose against the Swiss franc. The USD/CHF pair rose from 0.8198 to 0.8249. It traded within the range of the +2σ to -2σ Bollinger Bands on the hourly chart.On the 4-hour chart, the pair is facing resistance at the 10-period moving average (MA), and on the daily chart, it has been unable to break through the resistance zone formed by the 20-period MA. It will be worth watching to see if the U.S. dollar continues to strengthen during European trading hours.

European currencies saw the euro fall against the U.S. dollar after Germany’s consumer price index, released on May 30, remained unchanged from the previous month at 2.1% year-over-year. The euro/dollar pair fell from 1.1389 to 1.1311, dropping just below the 200 EMA on the hourly chart.On the 4-hour chart, the pair is hovering just below the 200-period simple moving average (SMA), searching for direction. Meanwhile, on the daily chart, the RSI is trending slightly higher. We will be watching closely to see if the euro continues to weaken during today’s U.S. trading session.

Today’s schedule includes Japan’s capital expenditure data at 8:50, the UK’s Nationwide house prices at 15:00, Germany’s Manufacturing PMI at 16:55, the Eurozone’s Manufacturing PMI at 17:00, and the UK’sOutstanding Consumer Credit and UK Money Supply, at 5:30 PM UK time: UK Manufacturing PMI, at 10:45 PM: US PMI Purchasing Managers’ Index, at 11:00 PM: US ISM Manufacturing Index and US Construction Spending, and at 1:45 AM: US Goolsbee:Remarks by Chicago Fed President Goolsbee, and at 26:00, remarks by U.S. Federal Reserve Chair Powell are scheduled. We will be closely monitoring the potential for a recovery in the euro, which has been trading weakly.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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