All eyes are on whether the Canadian dollar, which has fallen against the yen, will rebound following the jobs report

All eyes are on whether the Canadian dollar, which has fallen against the yen, will rebound following the jobs report

07.11.2025

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 provided support. 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. It recovered to the 200-day EMA line, moving along the 10-day MA on the hourly chart. On the 4-hour chart, the price has shifted from below the 20-day MA to above it, and on the daily chart, the RSI has risen from 32 to 42. This marks the first rebound in six trading days.On the monthly chart, the pair is currently searching for direction just below the 200-day EMA line.

Today’s economic indicators include remarks by U.S. Federal Reserve Bank of St. Louis President Musalem at 7:30 a.m., Germany’s trade balance and the UK’s Halifax house price index at 4:00 p.m., remarks by U.S. Federal Reserve Bank of New York President Williams at 5:00 p.m., remarks by Swiss National Bank (SNB) Board Member Tudin at 6:00 p.m., and at 9:00 p.m., Germany’sRemarks by German Bundesbank President Nagel, 10:30 PM: Canadian Employment Report, 12:00 AM: U.S. University of Michigan Consumer Sentiment Index, 12:15 AM: Remarks by UK MPC Member Pill, and 5:00 AM: U.S. Consumer Credit Balance. We will be watching closely to see if the Canadian dollar, which has fallen against the yen, will rebound on the back of the employment report.