Attention is turning to the euro’s price movements, which stand in contrast to the U.S. dollar’s slump

Attention is turning to the euro’s price movements, which stand in contrast to the U.S. dollar’s slump

05.05.2022

In yesterday’s U.S. currency markets, the dollar lost momentum after the FOMC meeting effectively ruled out expectations of a 0.75% rate hike at the next meeting, causing the euro/dollar pair to rise by about 120 pips. The euro/dollar is currently trading around 1.061 and is showing signs of attempting to rise further during today’s Asian trading session. At yesterday’s FOMC meeting, as expected by the market, a 0.5% rate hike was implemented, bringing the policy rate to 1%.

European currencies moved in contrast to the weakening U.S. dollar; while the USD/JPY pair fell, the EUR/JPY held its ground and rebounded from a low of 136.60. During today’s Asian trading session, the EUR/JPY recovered to 137.51 and is now moving toward its next target of 137.94 on a daily chart.

Today, at 15:45 CET, French industrial production and the French manufacturing production index will be released; at 16:00, the Turkish consumer price index; at 17:30, the UK services PMI; and at 20:00, the UKthe BOE policy rate and statement, a press conference by BOE Governor Bailey at 20:30, and U.S. Challenger job cuts. Later, during U.S. trading hours at 21:30, U.S. initial jobless claims and Q1 nonfarm labor productivity are scheduled. We will be watching the direction of the euro, which is currently showing strength.

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?