Will the euro, which has fallen against the yen, rebound? Market participants will be closely watching 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 an 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 from -22.3 in the previous month to -24.1.The euro/yen pair fell from 178.006 to 176.990. A decline along the 20-period moving average (MA) on the hourly chart was observed. 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 Q3 Consumer Price Index at 9:30, remarks by RBNZ Governor Hawksby at 12:30, UK Consumer Credit, UK Mortgage Approvals, and UK Mortgage Lending at 18:30, the US MBA Mortgage Applications Index at 20:00, and the Bank of Canada’s policy rate decision and statement at 22:45,at 11:00 PM, US Pending Home Sales; at 11:30 PM, a press conference by BOC Governor Maclean and US Weekly Crude Oil Inventories; at 3:00 AM, the FOMC policy rate decision and statement; and at 3:30 AM, a press conference by Fed Chair Powell. We will be closely monitoring price movements during European trading hours to see if the euro, which has fallen against the yen, will rebound.
Author: Keisuke Sakurai
