Will Market Participants Keep a Close Eye on the U.S. Dollar’s Potential for Recovery After Hitting a Low?
13.06.2025
- Europe: Industrial Production
- France: Consumer Price Index
In the previous day’s U.S. trading session, the U.S. dollar hit its weakest point from late European trading hours through the U.S. session. The USD/JPY pair fell from 144.528 to 143.171, tracking a downward trend along the 10-period moving average (MA) on the hourly chart.On the 4-hour chart, the pair has broken below the 200-period SMA support line without rebounding, and on the daily chart, it is attempting to set a new low for the month. We will need to monitor the direction closely to see if the U.S. dollar continues to weaken during today’s U.S. trading hours.
Among European currencies, the euro continued to rise. The euro/dollar pair climbed from 1.1481 to 1.1631. The price rose along the 10-period moving average on the hourly chart.On the 4-hour chart, a band walk along the +3σ line of the Bollinger Bands was observed, and on the daily chart, the euro has risen for four consecutive days. The RSI has surged to 67. Since the euro has already hit a new high for the year, it will be interesting to see if it remains firm heading into the weekend.
Today’s economic indicators include the New Zealand Manufacturing PMI at 7:30, Japan’s Industrial Production and Service Sector Activity Index at 13:30, Germany’s Consumer Price Index at 15:00, France’s Consumer Price Index at 15:45, and at 18:00, the Eurozone’sIndustrial Production and the EU Trade Balance, at 21:30: Canada’s Manufacturing Shipments, Wholesale Sales, and Q1 Capital Expenditures Utilization Rate, and at 23:00: the U.S. University of Michigan Consumer Sentiment Index (Preliminary).We will be keeping a close eye on the potential for a rebound in the U.S. dollar, which has reached its weakest level.
Author: Keisuke Sakurai
