Market participants are likely to closely monitor the euro’s upside potential at the end of the month

Market participants are likely to closely monitor the euro’s upside potential at the end of the month

31.03.2023

In yesterday’s U.S. currency trading, the U.S. dollar, following the release of the U.S. fourth-quarter real GDP figure of 2.6%, saw a seesawing trend against the yen.The USD/JPY pair fluctuated between 132.189 and 132.947, showing a lack of clear direction. However, during today’s Asian trading session, the pair has resumed its upward trend and has already touched 133.479. We will be watching closely to see if the dollar continues to rise during U.S. trading hours.

European currencies saw the euro—which emerged as the strongest currency during U.S. trading hours—rise against the U.S. dollar. The euro/dollar pair climbed from 1.0823 to 1.0925, reaching a level on par with this month’s high. From a technical perspective, the euro/dollar pair is currently moving along the +2σ line of the daily Bollinger Bands, so it will be worth watching to see if this leads to further gains.

Today’s economic indicators include Turkey’s trade balance at 4:00 PM, Germany’s employment statistics at 4:55 PM, the Eurozone’s employment statistics and consumer price index at 6:00 PM, Canada’s real GDP at 9:30 PM,U.S. personal income and the U.S. PCE deflator at 18:00, the U.S. Chicago PMI at 22:45, the U.S. University of Michigan Consumer Sentiment Index at 23:00, remarks by ECB President Lagarde at 24:00, and remarks by New York Fed President Williams at 28:05. We will closely monitor the upside potential for the euro as we approach the end of the month.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran