All eyes are on whether the pound, which has been strengthening against the U.S. dollar, will continue to rise.
24.12.2025
- U.S. MBA Mortgage Applications Index
- U.S. 7-Year Treasury Auction
In the U.S. currency market yesterday, the Canadian dollar fell against the yen after Canada’s October real GDP, released yesterday, came in at 0.4% year-over-year, down from 1.0% the previous month. The CAD/JPY pair fell from 114.221 to 113.488.Price action remained entirely within the range of the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, while the pair is barely holding above the 20-MA, resistance is building; on the daily chart, the RSI has pulled back from the 70 line.
Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.3443 to 1.3517. The uptrend along the 10-period moving average on the hourly chart continued.The 4-hour chart shows a similar price movement to the 1-hour chart, and on the daily chart, the pair has recovered to levels not seen since September of this year. As the pair continues to test higher levels during today’s Asian session, we will be closely monitoring the direction of the market during the European session.
Today’s economic indicators include the Japan Corporate Services Price Index and the release of the BOJ meeting minutes at 8:50, the JapanEconomic Sentiment Index, at 21:00 the U.S. MBA Mortgage Applications Index, at 22:30 U.S. Initial Jobless Claims, and at 25:30 a U.S. 7-year Treasury auction.Please note that today is Christmas Eve, so markets in Europe, the U.S., and other countries will have shortened trading hours or be closed. We’ll be watching to see if the pound, which has been strengthening against the U.S. dollar, can extend its gains.
Author: Keisuke Sakurai
