Attention is turning to the upside potential of the euro-dollar pair, which has hit a new high for the year
30.06.2025
- Chicago Purchasing Managers' Index
- NZ/ANZ Business Confidence
Last weekend, the U.S. dollar strengthened against the yen. The USD/JPY pair rose from 144.173 to 144.953. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price has rebounded from the -2σ line of the Bollinger Bands, and on the daily chart, it is currently attempting to break above the 20-period MA. We should keep an eye on whether end-of-month flows will cause any shifts in the dollar’s strength.
Among European currencies, the euro rose against the U.S. dollar. The EUR/USD pair extended its gains for the seventh consecutive trading day, climbing from 1.1681 to 1.1753. On the 4-hour chart, a divergence is emerging between the candlesticks and the RSI, while on the daily chart, the pair has risen to levels not seen since September 26, 2021. We will be watching to see if the euro continues to rise, while keeping an eye on this divergence.
Today’s economic indicators include Japan’s Industrial Production at 8:50, New Zealand’s ANZ Business Confidence at 10:00, Japan’s Housing Starts at 14:00, Germany’s Import Price Index and Retail Sales at 15:00, the UK’s Real GDP and Current Account Balance at 15:00,at 5:00 PM: Eurozone Money Supply; at 5:30 PM: UK Consumer Credit; at 9:00 PM: South Africa Trade Balance and Germany Consumer Price Index; at 10:45 PM: US Chicago PMI; at 11:00 PM: Remarks by Bostic, President of the Atlanta Fed; and at 12:00 AM: Remarks by Lagarde, ECB President.We want to carefully assess the upside potential for the euro/dollar pair, which has been hitting new highs for the year.
Author: Keisuke Sakurai
