Attention is turning to the upside potential of the U.S. dollar, which rose on the back of strong U.S. PMI data
25.07.2025
- Japan Economic Sentiment Index
- UK Retail Sales
In the U.S. currency market yesterday, the U.S. dollar rose against the yen after the July U.S. PMI (Purchasing Managers' Index) figures, released yesterday, showed an upward revision from the previous month for both the non-manufacturing and composite indices.USD/JPY rose from 145.864 to 147.023. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 200-period exponential moving average (EMA) is acting as a support level, leading to a rebound, and during today’s Asian session, the pair has already surpassed yesterday’s high.
European currencies saw the euro rebound against the pound after the ECB’s monetary policy meeting yesterday resulted in the policy rate being held steady—as expected by the market—marking the first time in eight meetings that a rate cut was not implemented. The EUR/GBP pair rose from 0.8661 to 0.8710, with prices moving along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, prices are also rising from the 20-period moving average, just as on the hourly chart, and on the daily chart, the uptrend continues, supported by the 10-period moving average.
Today’s economic indicators include the UK GfK Consumer Confidence Survey at 8:01, Japan’s Tokyo Consumer Price Index at 8:30, Japan’s Business Service Price Index at 8:50, Japan’s Foreign/inward securities investment, at 8:50 AM: Japan’s Business Service Price Index and Japan’s Foreign/ Inward Securities Investment, at 2:00 PM: Japan’s Leading Economic Index, at 3:00 PM: UK Retail Sales, at 3:45 PM: France’s Consumer Confidence Index, at 5:00 PM: Germany’s IFO Business Climate Index and Eurozone Money Supply, and at 9:30 PM: US Durable Goods Orders. We will carefully assess the upside potential of the US dollar, which has risen on the back of strong US PMI data.
Author: Keisuke Sakurai
