Should We Keep an Eye on the Upside Potential for the Euro/Dollar Pair, Which Has Continued to Rise?
09.09.2025
- UK BRC Same-Store Sales
- Remarks by Swiss National Bank (SNB) President Schlegel
In the U.S. currency market yesterday, the U.S. dollar fell against the yen. The USD/JPY pair fell from 148.579 to 147.332. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it.On the 4-hour chart, the 200-period simple moving average (SMA) failed to act as support, and the price broke below it, leading to a decline. On the daily chart, the 200-period SMA acted as resistance, causing the candlestick to reverse. Given that downward price movement is also being observed during today’s Asian trading session, we should pay close attention to developments during U.S. trading hours.
European currencies rose as the euro strengthened against the U.S. dollar following yesterday’s release of Germany’s July industrial production figures, which improved to a year-over-year increase of 1.5% from the previous month’s decline of 3.6%.The EUR/USD pair rose from 1.1703 to 1.1766, moving in line with the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the 10-period MA is acting as a support line and trending upward, while on the daily chart, the price has expanded from the -2σ to the +3σ levels of the Bollinger Bands and has been rising for two consecutive days.
Today’s schedule includes UK BRC same-store sales at 8:01, Japan’s money supply at 8:50, Australia’s Westpac Consumer Confidence Index at 9:30, and Australia’sNAB Business Conditions Index, at 15:00 Japan’s Machine Tool Orders, at 15:45 France’s Industrial Production and Manufacturing Production Index, at 18:30 South Africa’s Q2 Real GDP, at 19:00 the U.S. Small Business Optimism Index, at 20:30 Germany’sremarks by German Bundesbank President Nagel, at 20:50 remarks by Swiss National Bank (SNB) President Schlegel, at 24:15 remarks by BOE Deputy Governor Breeden, and at 26:00 a U.S. 3-year Treasury auction are scheduled.We will carefully monitor the upside potential of the euro/dollar pair, which has continued to rise.
