Will the euro's rebound against the U.S. dollar continue? Keep an eye on its direction.
09.07.2025
- Japan · Money Supply
- NZ: RBNZ Policy Rate and Statement Release
In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen after the Canadian Ivey Purchasing Managers’ Index for June, released yesterday, improved to 53.3 from 48.9 the previous month. The CAD/JPY pair rose from 106.646 to 107.430, with the rally tracking the 20-period moving average on the hourly chart.On the 4-hour chart, the pair rebounded after finding support at the 20-period moving average, and on the daily chart, it has risen for two consecutive days. The price has extended as far as the +3σ line of the Bollinger Bands.
European currencies saw the euro rebound against the U.S. dollar after Germany’s May trade balance, released yesterday, improved to €18.4 billion from €14.6 billion the previous month.The EUR/USD pair traded between 1.1681 and 1.1765, fluctuating throughout the session around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is facing resistance near the 20-period MA, while on the daily chart, it is currently rebounding after touching the 10-period MA.
Today’s economic indicators include Japan’s money supply at 8:50, the RBNZ policy rate and statement at 11:00, the BOE Financial Stability Report at 18:30, the U.S. MBA Mortgage Applications Index at 20:00, remarks by German Bundesbank President Nagel at 21:15, U.S. wholesale inventories at 23:00,23:30: US Weekly Crude Oil Inventories, 26:00: US 10-Year Treasury Auction, and 27:00: Release of the US FOMC Minutes. We will be watching closely to see if the euro’s momentum, which has rebounded against the US dollar, continues.
Author: Keisuke Sakurai
