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 yesterday, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 114.151 to 115.279. An uptrend has formed along the 20-period moving average on the hourly chart.On the 4-hour chart, the candlesticks have extended from the centerline 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-day moving average, and the uptrend that began last April is still ongoing.

European currencies rose against the yen as Germany’s February manufacturing PMI, released yesterday, edged up slightly to 50.9 from 50.7 the previous month.EUR/JPY traded between 183.539 and 184.692. Price action was seen fluctuating around 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, while on the daily chart, the price has rebounded after narrowly avoiding a break below the 20-period MA. However, compared to other yen crosses, the upside potential for EUR/JPY remains limited, so we should pay close attention to price movements during today’s European trading session.

Today’s economic indicators include remarks by RBA Governor Block at 6:10 a.m., New Zealand housing construction permits at 6:45 a.m., Japan’s employment statistics at 8:30 a.m., Japan’s capital expenditure and monetary base at 8:50 a.m., Australia’s current account balance and housing construction permits at 9:30 a.m.,1:00 PM: Remarks by Bank of Japan Governor Ueda; 4:45 PM: France’s budget balance; 7:00 PM: Eurozone’s consumer price index; 11:55 PM: Remarks by John Williams, President of the New York Fed; and 1:45 AM: Remarks by Neel Kashkari, President of the Minneapolis Fed.We should keep a close eye on price movements during U.S. trading hours to see if the firm Canadian dollar continues to rise.