All eyes are on whether the weekend trend of widespread U.S. dollar buying will continue

All eyes are on whether the weekend trend of widespread U.S. dollar buying will continue

27.02.2023

Last weekend, the U.S. dollar rose after strong U.S. January personal income data was released during U.S. trading hours. The EUR/USD pair fell by approximately 80 pips from 1.0614 to 1.0535, reaching the lower boundary of the downtrend line on the 4-hour chart.On the daily chart, the EUR/USD has fallen just below the 200-day EMA, and the daily RSI has not yet reached 30, indicating that there is still room to fall. We need to assess whether the pair will extend its decline to around 1.0480, which is the 38.2% Fibonacci retracement level of the recent rally.

Among European currencies, the pound came under pressure from a strengthening U.S. dollar, causing GBP/USD to decline. GBP/USD fell by approximately 110 pips from 1.2041 to 1.1928. The decline was driven by momentum that brought the pair close to this year’s low.GBP/USD is currently trading just below the daily 200-day SMA. If it breaks below the 200-day SMA, the next major support zone will be around 1.1841, so we will be watching closely to see if a rebound occurs in this area.

Today, at 4:00 p.m. CET, Turkey’s trade balance and economic confidence index, and Norway’s retail sales figures will be released;at 6:00 PM, remarks by BOE Deputy Governor Brovent; at 7:00 PM, the Eurozone Consumer Confidence Index; and during U.S. trading hours at 10:30 PM, Canada’s Q4 Current Account Balance and U.S. Durable Goods Orders; at 12:00 AM, U.S. Pending Home Sales; and at 12:30 AM, the U.S. Dallas Fed Manufacturing Activity Index and remarks by Federal Reserve Governor Jefferson.We will be watching closely to see if the weekend trend of broad-based U.S. dollar buying 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. while gauging the direction of currency strength and weakness?

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?