Will the rising euro continue to climb? We’ll be watching closely.

Will the rising euro continue to climb? We’ll be watching closely.

12.01.2023

The previous day, the U.S. dollar faced resistance due to a decline in the yield on 10-year U.S. Treasury bonds.Yesterday, Boston Fed President Collins suggested in an interview with The New York Times that the next FOMC rate hike could be reduced to 0.25%, which also contributed to the dollar’s weakness. The EUR/USD pair rose slightly from 1.0724 to 1.0776. As it continues to hit new highs from last month, we will be watching closely to see if the dollar weakens further during U.S. trading hours.

In the European currency market, the euro strengthened against the pound, with the EUR/GBP pair rising by approximately 60 pips from 0.820 to 0.8881.EUR/GBP hit a new high last month, and on the daily chart, the 20-day moving average is acting as a support level, indicating an upward trend. Since the 100% Fibonacci expansion level based on the recent peak is at 0.8950, we will be watching to see if price action on higher timeframes moves higher.

Today’s schedule includes the ECB’s monthly report at 6:00 PM, U.S. initial jobless claims and the U.S. Consumer Price Index at 10:30 PM, remarks by Harker, President of the Philadelphia Fed, at 10:45 PM, U.S. weekly natural gas inventories at 12:30 AM, and remarks by Braad, President of the St. Louis Fed, at 1:30 AM.St. Louis Fed President, at 2:00 AM UK time: Remarks by MPC member Mann, at 2:40 AM UK time: Remarks by US Richmond Fed President Barkin, and at 3:00 AM UK time: US 30-year Treasury auction. We will be watching closely to see if the euro, which has been on the rise, will continue to gain ground.

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?