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 yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 114.151 to 115.279, forming an uptrend along the 20-period moving average 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-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 traders should pay close attention to price movements during today’s European 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 U.S. Federal Reserve Bank of New York President Williams; 1:45 AM: Remarks by U.S. Federal Reserve Bank of Minneapolis President Kashkari.We should keep a close eye on price movements during U.S. trading hours to see if the firm Canadian dollar continues to rise.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed