Will market participants keep a close eye on the potential for a rebound in the U.S. dollar, which has hit a record low?

Will market participants keep a close eye on the potential for a rebound in the U.S. dollar, which has hit a record low?

13.06.2025

In yesterday’s U.S. trading session, the U.S. dollar hit its lowest point from late European trading hours through the U.S. session. The USD/JPY pair fell from 144.528 to 143.171, declining along the 10-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair broke below the 200-period simple moving average (SMA) support line without finding any support, and on the daily chart, it is currently attempting to break below this month’s low. We will be watching closely to see if the U.S. dollar continues to weaken during today’s U.S. trading session.

Among European currencies, the euro continued to rise. The EUR/USD 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 was observed along the +3σ line of the Bollinger Bands, and on the daily chart, the pair has risen for four consecutive days. The RSI has surged to 67. Since the pair has already hit a new high for the year, it will be interesting to see if the euro remains firm heading into the weekend.

Today’s economic indicators include the New Zealand Manufacturing PMI at 7:30 a.m., Japan’s Industrial Production and Tertiary Industry Activity Index at 1:30 p.m., Germany’s Consumer Price Index at 3:00 p.m., France’s Consumer Price Index at 3:45 p.m., and at 6:00 p.m., the Eurozone’sIndustrial Production and the EU Trade Balance, and at 21:30, Canada’s Manufacturing Shipments, Wholesale Sales, and Q1 Capital Expenditure Utilization Rate, followed by the US University of Michigan Consumer Sentiment Index (Preliminary) at 23:00. We will be closely watching for any potential recovery in the US dollar, which has recently hit a low.