Keep an eye on the direction of the pound, which has been fluctuating against the yen
03.11.2025
- Number of Housing Construction Permits in Australia
- Remarks by BOC Governor Macleam
Last weekend, the U.S. dollar rose against the euro.The EUR/USD pair fell from 1.1577 to 1.1522. The decline occurred as the pair was capped by the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pullback from the 200-period exponential moving average (EMA) continues, and on the daily chart, the pair has broken below the October low. It has also fallen below the 20-period MA on the weekly chart. However, as a rebound is being observed during today’s Asian trading session, we should pay close attention to the direction of the US dollar during US trading hours.
Among European currencies, the pound traded in a narrow range against the yen. GBP/JPY fluctuated between 201.827 and 202.910. Price action was seen straddling the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the pair has rebounded from the 200-period SMA line, while on the daily chart, the 20-period MA is acting as a support level, leaving the pair in a state of indecision regarding its direction. Meanwhile, on the weekly chart, the uptrend continues without having broken below the 10-period MA support line.
Today’s economic indicators include New Zealand housing permits at 6:45, Australian housing permits at 9:30, the Swiss Consumer Price Index at 16:30, the Swiss Manufacturing PMI at 17:30, the French Manufacturing PMI at 17:50, the German Manufacturing PMI at 17:55, the Eurozone Manufacturing PMI at 18:00, and the UKManufacturing PMI, at 12:00 AM US ISM Manufacturing Index, at 2:00 AM US Daily: Remarks by the President of the San Francisco Fed, at 3:30 AM CA Remarks by BOC Governor McClem, and at 4:00 AM US Remarks by Fed Governor Cook. Keep an eye on the direction of the pound, which has been fluctuating against the yen.
Author: Keisuke Sakurai
