Keep an eye on the euro, which is facing resistance at higher levels

Keep an eye on the euro, which is facing resistance at higher levels

16.05.2022

Last weekend, the U.S. dollar weakened against the Oceania currencies, with the AUD/USD pair rebounding by 100 pips from 0.685 to 0.695. However, the Australian dollar’s strength did not hold, and during today’s Asian trading session, it has fallen by about half of its earlier gains, currently trading around 0.689. Against European currencies, the dollar has strengthened, with the EUR/USD pair falling to 1.034.

Although European industrial production figures released last Friday showed an improvement over forecasts, coming in at -1.8%, the euro faced resistance at higher levels, and the euro/pound pair fell slightly from 0.852 to 0.848. Given that the euro is also weakening against the pound, which has recently been facing resistance at higher levels, we should remain vigilant for further declines in response to headline news, including geopolitical risks.

Today’s schedule includes Turkey’s current account balance at 4:00 PM, the Eurozone’s trade balance at 6:00 PM, Canada’s housing starts at 9:15 PM, Canada’s manufacturing shipments and wholesale sales, and the New York Fed Manufacturing Index at 9:30 PM, followed by remarks from Williams, President of the New York Fed, at 9:55 PM:Remarks by NY Fed President Williams, at 10:00 PM: Canada’s Existing Home Sales, at 11:15 PM: Remarks by BOE Governor Bailey, Remarks by BOE Deputy Governor Ramsden, and Remarks by MPC Member Haskell, and at 1:00 AM: U.S. Foreign Investment in U.S. Securities. Keep an eye on the direction of the euro, which is facing resistance on the upside.

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?