Will they wait and see if the pound has room to recover?

Will they wait and see if the pound has room to recover?

09.06.2025

Last weekend, the Canadian dollar fell against the U.S. dollar following the release of Canada’s May employment statistics on the 6th, which showed the unemployment rate had worsened to 7.0% from 6.9% the previous month. The USD/CAD pair rose from 1.3660 to 1.3704, with the rally tracking the 20-period moving average on the hourly chart.On the 4-hour chart, a rebound from the -2σ Bollinger Band was observed, and the daily chart is showing price movements similar to those on the 4-hour chart.

Among European currencies, the pound fell against the U.S. dollar. The GBP/USD pair dropped from 1.3584 to 1.3508.The price declined while facing resistance at the 20-period moving average on the hourly chart. On the 4-hour chart, the candlesticks fell from the +3σ to the -2σ levels of the Bollinger Bands. On the daily chart, the price has been trading with support just below the 10-period moving average for approximately 10 trading days. Additionally, on the daily chart, the candlesticks are showing divergence with the RSI.

Today’s economic indicators include New Zealand’s first-quarter manufacturing activity at 7:45 a.m., Japan’s real GDP and balance of payments at 8:50 a.m., Japan’s Economic Watchers Survey at 2:00 p.m., and U.S. wholesale inventories at 11:00 p.m. No other major economic releases or key speeches are scheduled. We will carefully monitor whether the pound, which has been falling, shows signs of recovery during European trading hours.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed