Should we be wary of price fluctuations one week after the invasion of Ukraine?

Should we be wary of price fluctuations one week after the invasion of Ukraine?

04.03.2022

In the U.S. currency market yesterday, a risk-off sentiment took hold as the second round of ceasefire talks between Russia and Ukraine failed to yield progress, leading to a third round of negotiations, causing the U.S. dollar to strengthen against the euro. The EUR/USD pair fell from 1.112 to 1.100, and the decline continues in the absence of any support at lower levels. Since there appears to be no significant support until around 1.085 on the weekly chart, we should remain cautious of a decline without any pullbacks.

European currencies have fallen further following reports of Russian airstrikes near nuclear power facilities, with the euro/yen pair dropping from 128.50 to 126.93. Like the euro/dollar pair, the euro/yen has already broken below its support level, so traders should be cautious of a continued decline toward the next support level at 126.00.

Today, at 4:00 p.m. CET, Germany’s, France’s industrial production and manufacturing production index at 16:45, the UK’s construction PMI at 18:30, Eurozone retail sales at 19:00, Canada’s housing starts and Q4 labor productivity index along with the U.S. jobs report at 22:30, and Canada’s Ivey PMI at 24:00.With one week having passed since Russia’s invasion of Ukraine, we will closely monitor the situation while assessing price movements.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 16.04.2026New

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

6. 15.04.2026

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

7. 14.04.2026

   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

8. 13.04.2026

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

9. 10.04.2026

   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?

10. 09.04.2026

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