All eyes are on whether the Canadian dollar, which has fallen against the yen, will rebound following the jobs report
07.11.2025
- University of Michigan Consumer Sentiment Index
- Remarks by Nagel, President of the German Federal Bank
In yesterday’s U.S. currency markets, the Canadian dollar fell against the yen ahead of today’s employment report. The CAD/JPY pair fell from 109.273 to 108.197.A downtrend has emerged along the 200-period EMA on the hourly chart. On the 4-hour chart, the pair is declining while being capped by the 20-period MA. On the daily chart, the price has broken below the 20-period MA line, which had previously served as support, with a real-body candle. Meanwhile, on the weekly chart, the pair is currently pulling back from the +3σ level of the Bollinger Bands.
Among European currencies, the euro, which had been falling, rebounded against the U.S. dollar. The EUR/USD pair rose from 1.1485 to 1.1552, recovering to the 200-period EMA line along the 10-period MA on the hourly chart.On the 4-hour chart, the price has shifted from below the 20-MA to above it, and on the daily chart, the RSI has risen from 32 to 42. This marks the first rebound in six business days. On the monthly chart, the price is currently seeking direction just below the 200-EMA line.
Today's key events include remarks by U.S. Federal Reserve Bank of St. Louis President Musalem at 7:30 a.m., Germany'strade balance, UK Halifax house prices, at 17:00 remarks by U.S. Fed President Williams (New York Fed), at 18:00 remarks by Swiss SNB Board Member Tudin, at 21:00 remarks by Germanremarks by German Bundesbank President Nagel, at 22:30: Canadian employment report, at 24:00: U.S. University of Michigan Consumer Sentiment Index, at 24:15: remarks by UK MPC Member Pill, and at 29:00: U.S. consumer credit balances.We will be watching closely to see if the Canadian dollar, which has fallen against the yen, will rebound following the employment report.
Author: Keisuke Sakurai
