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 Announcement
- Canada: BOC Policy Rate and Statement Release
In U.S. currency trading yesterday, ahead of today’s Bank of Canada (BOC) policy rate announcement, the Canadian dollar fell against the yen. The CAD/JPY pair dropped 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 moved 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 traders should pay close attention to price movements during U.S. trading hours.
European currencies saw the euro fall against the yen after Germany’s November GfK Consumer Confidence Index, released yesterday, deteriorated to -24.1 from -22.3 the previous month.The euro/yen pair fell from 178.006 to 176.990. The decline followed 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.
