Should we keep an eye on the balance of power between the U.S. dollar and European currencies?

Should we keep an eye on the balance of power between the U.S. dollar and European currencies?

29.04.2021

Yesterday, the three major U.S. stock indices saw mixed performance, with the S&P 500—which saw particularly little movement—closing at 4,183, down 0.08% from the previous day. Following the FOMC’s statement yesterday indicating signs of economic recovery and suggesting future growth in consumer spending and increased mobility, crude oil prices have rebounded to $64.00.

In the foreign exchange market, the USD/JPY pair—which plummeted immediately after yesterday’s FOMC meeting—has been on a recovery trend, climbing from around 108.4 to the 108.7 level. In a speech delivered during Asian trading hours today, U.S. President Biden stated that “the United States has regained its vitality,” while announcing a $1.8 trillion economic relief package and revealing plans to fund it through taxes on the wealthy.

Today, at 4:00 PM, Turkey’s Economic Confidence Index; at 4:55 PM, Germany’s Unemployment Rate; at 8:30 PM, remarks by Bundesbank President Bahtmann; at 9:00 PM, Germany’s Consumer Price Index (flash estimate);at 9:30 PM, U.S. Initial Jobless Claims, U.S. Q1 GDP (flash estimate), U.S. Personal Consumption Expenditures, and U.S. Core PCE Deflator; at 11:00 PM, U.S. Pending Home Sales; and at midnight, remarks by U.S. Federal Reserve Vice Chair Quarles. We should remain vigilant for end-of-month price movements and keep a close eye on currency strength.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

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

3. 16.04.2026New

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

4. 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

5. 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?

6. 13.04.2026

   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

7. 10.04.2026

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

8. 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?

9. 08.04.2026

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

10. 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