Investors should keep an eye on the euro amid concerns over the European economic outlook

Investors should keep an eye on the euro amid concerns over the European economic outlook

28.04.2022

The U.S. dollar continued to strengthen against the euro yesterday. The GBP/USD pair fell 90 pips from 1.259 to 1.250. After a period of gradual decline along the daily 20-day moving average (MA), the pair has now deviated significantly from the daily MA and has posted six consecutive bearish candles. Therefore, we should pay close attention to today’s economic data releases during U.S. trading hours and remain vigilant for potential reversal points.

European currencies faced headwinds as concerns over infrastructure persisted following announcements by major countries, including Germany, of phased oil embargoes against Russia, and Russia’s threats to cut off gas supplies. The euro struggled to gain ground. The EUR/AUD pair fell by approximately 160 pips from 1.494 to 1.477. Market conditions make it difficult for the euro to sustain a rebound.

Today, at 4:00 PM, Turkey’s Economic Confidence Index; at 5:00 PM, the ECB’s Monthly Report; at 9:00 PM, Germany’s Consumer Price Index (flash estimate);at 9:30 PM, U.S. Initial Jobless Claims, U.S. Q1 GDP, U.S. Personal Consumption Expenditures, and U.S. Core PCE Deflator; at 11:30 PM, U.S. Weekly Natural Gas Inventories; at 12:00 AM, the U.S. Kansas City Fed Manufacturing Activity Index; and at 2:00 AM, a U.S. 7-year Treasury auction.We will carefully assess the strength and weakness of various currencies heading into the weekend.

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?