Will the U.S. dollar, which has been weakening against the euro, rebound? All eyes are on price movements during European trading hours.
03.12.2025
- U.S. ADP Employment Figures
- Canada: Labor Productivity
In the U.S. currency market yesterday, the U.S. dollar fell against the euro. The EUR/USD pair rose from 1.1591 to 1.1625. It moved from below the 20-period moving average (MA) on the hourly chart to above it.On the 4-hour chart, the 200-period simple moving average (SMA) is acting as support; the retest has concluded, and the closing price is trending upward. On the daily chart, the double bottom formation that began last month has been completed. The price has recovered to a level where it is attempting to break above the resistance line.
Despite the fact that the unemployment rate in the EU’s October employment statistics, released yesterday, worsened by 0.1 percentage points from the previous month’s 6.3% to 6.4%, the euro rose against the yen.The euro/yen pair rose from 180.378 to 181.351, hitting a new high along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the 75-period MA is acting as a support level, leading to a rebound, and on the daily chart, the uptrend above the 10-period MA remains intact.
Today’s schedule includes remarks by RBA Governor Block at 7:00, Australia’s real GDP at 9:30, Germany’s non-manufacturing PMI at 17:55, the Eurozone’s services PMI at 18:00, the UK’s services PMI at 18:30, and the Eurozone’sProducer Price Index, at 21:00 the U.S. MBA Mortgage Applications Index, at 22:15 the U.S. ADP Employment Report, at 22:30 the U.S. Import Price Index, Canadian Labor Productivity, and remarks by ECB President Lagarde, at 23:15 the U.S.Industrial Production at 23:45, U.S. PMI at 23:45, U.S. ISM Non-Manufacturing Index at 24:00, and U.S. Weekly Crude Oil Inventories at 24:30. We will be watching price movements during European trading hours to see if the U.S. dollar, which has been weakening against the euro, will show signs of recovery.
Author: Keisuke Sakurai
