All eyes are on whether the momentum of the rebounding euro-dollar pair will continue

All eyes are on whether the momentum of the rebounding euro-dollar pair will continue

02.12.2022

In the previous day’s U.S. trading session, the dollar faced resistance following dovish remarks from a Fed official, causing the EUR/USD pair to rise from 1.0437 to 1.0538. Technically, the EUR/USD pair has rebounded with support from the 75-period moving average on the 4-hour chart, and given the euro’s relative strength, traders should watch for further gains in the EUR/USD pair during U.S. trading hours.

European currencies saw the pound decline against the yen, despite its support holding firm; GBP/JPY fell from 167.205 to 165.247. Although GBP/JPY has recently been trading sideways around the 166-yen level, it has been gradually testing lower highs, so traders should be on guard for a potential decline in GBP/JPY following the release of economic indicators and comments from key officials during U.S. trading hours.

Today’s economic indicators include: Germany’s trade balance and import price index at 4:00 PM; France’s budget balance, industrial production, and manufacturing production index at 4:45 PM; the Eurozone’s producer price index at 7:00 PM; Brazil’s industrial production at 9:00 PM; Canada’s employment report at 10:30 PM;U.S. Employment Report, remarks by German Bundesbank President Nagel, remarks by U.S. Richmond Fed President Barkin at 11:15 PM, and remarks by U.S. Chicago Fed President Evans at 12:15 AM. We will be closely monitoring whether the momentum of the rebounding EUR/USD pair continues.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 13.04.2026

   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. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 09.04.2026

   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. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?