Will the firm Canadian dollar continue to rise? Market participants are keeping a close eye on price movements during U.S. trading hours.

Will the firm Canadian dollar continue to rise? Market participants are keeping a close eye on price movements during U.S. trading hours.

03.03.2026

In the U.S. currency market the previous day, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 114.151 to 115.279. An uptrend has emerged along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, candlesticks have extended from the middle line of the Bollinger Bands to +3σ, and on the daily chart, the pair has recovered to its year-to-date high. Meanwhile, on the weekly chart, the correction ended upon touching the 20-period moving average, and the uptrend that began last April is still ongoing.

European currencies saw the euro rise against the yen after Germany’s February manufacturing PMI, released yesterday, rose slightly to 50.9 from 50.7 the previous month. The euro/yen pair traded between 183.539 and 184.692, with price action straddling 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 level, and on the daily chart, the price has rebounded after narrowly avoiding a break below the 20-period moving average. However, compared to other yen crosses, the euro/yen pair’s upside potential remains limited, so traders should pay close attention to price movements during today’s European trading session.

Today’s economic indicators include remarks by RBA Governor Block of Australia at 6:10, New Zealand housing construction permits at 6:45, Japan’s employment statistics at 8:30, Japan’s capital expenditure and monetary base at 8:50, Australia’s current account balance and housing construction permits at 9:30,1:00 PM: Remarks by Bank of Japan Governor Ueda; 4:45 PM: France’s budget balance;at 19:00, the Eurozone Consumer Price Index; at 23:55, remarks by U.S. Federal Reserve Bank of New York President Williams; and at 25:45, remarks by U.S. Federal Reserve Bank of Minneapolis President Kashkari are scheduled. We’ll need to keep a close eye on price movements during U.S. trading hours to see if the firm Canadian dollar will continue to rise.