Market participants are likely to closely monitor the upside potential of the euro, which has risen against the U.S. dollar

Market participants are likely to closely monitor the upside potential of the euro, which has risen against the U.S. dollar

09.02.2026

Last weekend, the Canadian dollar rose against the yen following the release of Canada’s January employment statistics on the 6th, which showed the unemployment rate falling by 0.3 percentage points from the previous month’s 6.8% to 6.5%. The CAD/JPY pair rose from 114.123 to 115.190 and moved from below the 20-period moving average (MA) on the hourly chart to above it.On the 4-hour chart, the uptrend along the 20-period moving average continues, and on the daily chart, the pair has hit a new high for the month. The price has surged to the +2σ level of the Bollinger Bands.

European currencies rose against the U.S. dollar, even though Germany’s December industrial production, released on the 6th, deteriorated year-on-year from 0.8% in the previous month to -0.6%.The EUR/USD pair rose from 1.1765 to 1.1826. Prices turned upward while finding support at the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the 200-period simple moving average (SMA) is acting as a support line, forming a double bottom. On the daily chart, the pair is searching for direction just below the 20-period MA.

Today’s economic indicators include Japan’s Monthly Labor Survey at 8:30 a.m., Japan’s Balance of Payments at 8:50 a.m.,the Japan Economic Watchers Survey at 14:00, remarks by German Bundesbank President Nagel and ECB President Lagarde at 25:00, remarks by U.S. Federal Reserve Governor Waller at 27:30, remarks by Bank of England MPC member Mann at 28:30, and remarks by Atlanta Fed President Bostic at 29:15.We will closely monitor the upside potential of the euro, which has risen against the US dollar.