Will the euro, which has fallen against the yen, rebound? All eyes are on price movements during European trading hours.
29.10.2025
- U.S. FOMC Policy Rate and Statement Release
- Canada: BOC Policy Rate and Statement Release
In yesterday’s U.S. currency trading, the Canadian dollar fell against the yen ahead of today’s Bank of Canada (BOC) policy rate announcement. The CAD/JPY pair fell from 109.286 to 108.466.The price fell to the 200-period EMA on the hourly chart. On the 4-hour chart, the price has shifted from above the 20-period MA to below it, and on the daily chart, it has dropped to just below the 10-period MA. However, during today’s Asian trading session, the pair has rebounded against the yen, so we should keep a close eye on price movements during U.S. trading hours.
European currencies fell against the yen as the German GfK Consumer Confidence Index for November, released yesterday, deteriorated to -24.1 from -22.3 the previous month.The euro/yen pair fell from 178.006 to 176.990, with the decline tracking the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the candlesticks have fallen just below the 75-period MA, and on the daily chart, the RSI is showing a pullback from the 70 level.
Today’s schedule includes Australia’s third-quarter Consumer Price Index at 9:30, remarks by RBNZ Governor Hawksby at 12:30, the UK’sconsumer credit balances, UK mortgage approvals, and UK mortgage-backed securities outstanding; at 20:00, the US MBA Mortgage Applications Index; at 22:45, the Canadian BOC policy rate and statement; at 23:00, US pending home sales;11:30 PM: Canada – BOC Governor McClem Press Conference, U.S. – Weekly Crude Oil Inventories; 3:00 AM: U.S. – FOMC Policy Rate and Statement Release; 3:30 AM: U.S. – Fed Chair Powell Press Conference.We will be closely monitoring price movements during European trading hours to see if the euro, which has fallen against the yen, will stage a rebound.
