Investors should keep an eye on the euro, which is rebounding on hopes of a diplomatic resolution to the situation in Ukraine

Investors should keep an eye on the euro, which is rebounding on hopes of a diplomatic resolution to the situation in Ukraine

10.03.2022

In the U.S. currency market yesterday, the dollar index fell from 99.1 to 98.1, weighing on the dollar’s upside. As a result, the USD/JPY pair, which had been hovering just below the 116-yen level, fell back to 115.55 yesterday. However, during today’s Asian trading session, it touched 116.00 and has resumed its upward trend, making this a good time to watch for further upside potential against the yen.

European currencies saw the euro strengthen across the board, with the EUR/USD pair rising by approximately 200 pips in a single day, from 1.089 to 1.109.Ukrainian President Zelenskyy stated that "there is some room for compromise in negotiations with Russia," prompting a buyback of the euro on expectations of a ceasefire. Since the EUR/USD pair has just barely broken above the 200-period SMA on the hourly chart, we will be watching closely to see if it resumes its upward trend after a retest.

Today, Turkey’s unemployment rate is scheduled for 4:00 PM, followed by the ECB’s policy rate decision and statement at 9:45 PM, ECB President Lagarde’s press conference at 10:30 PM, U.S. initial jobless claims and the U.S. Consumer Price Index, U.S. weekly natural gas inventories at 12:30 AM, and the U.S. 30-year Treasury auction at 3:00 AM.at 2:00 AM, U.S. budget balance, and at 6:30 AM the following day, New Zealand Manufacturing PMI. While keeping a close eye on developments in Ukraine and Russia, I want to monitor the euro’s ability to rebound.

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?