Should we be watching for upside potential in the euro, now that it has become the strongest currency?
16.09.2022
- Remarks by ECB President Lagarde
- Eurozone Consumer Price Index
In yesterday’s U.S. trading session, the Canadian dollar weakened against the yen. The CAD/JPY pair fell by just under 100 pips, from 109.164 to 108.376. During today’s Asian session, the pair has continued to test lower levels, already dropping to 107.917. Since the CAD/JPY has entered a support-free zone on the 4-hour chart, traders should be on guard for a significant decline during U.S. trading hours.
Among European currencies, the euro rose against the pound, with the EUR/GBP pair climbing from 0.8642 to 0.8720. It also hit a new high for the year during today’s Asian trading session, touching 0.8728. On the 4-hour chart, the 75-period moving average is providing support, and with the daily RSI nearing 70 and offering some breathing room, we should watch for further upside following a potential pullback.
Today’s schedule includes UK retail sales at 3:00 PM Asia time, remarks by ECB President Lagarde at 5:30 PM Europe time, the Eurozone Consumer Price Index at 6:00 PM,, at 20:30 the Turkish Housing Price Index, at 21:15 Canadian Housing Starts, at 21:30 US time Canadian Wholesale Sales and Canadian International Securities Turnover, at 23:00 the US University of Michigan Consumer Sentiment Index (Preliminary), and at 29:00 US Securities Investment in the US. We will be watching for upside potential in the euro, which has become the strongest currency.
Author: Keisuke Sakurai
Past Market Reports
22.04.2026
Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?
21.04.2026
With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall
20.04.2026
Will the market wait and see how much further the U.S. dollar can rise against the yen?
17.04.2026
Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.
16.04.2026
Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar
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?
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
13.04.2026
Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?
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?
09.04.2026
Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?
