Market participants are likely to closely monitor the euro's upside potential at the end of the month
31.03.2023
- European Consumer Price Index
- Rice · Personal Income
In yesterday's U.S. currency trading, the dollar fluctuated against the yen following the release of the U.S. fourth-quarter real GDP figure of 2.6%.The USD/JPY pair fluctuated between 132.189 and 132.947, showing a lack of 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.
Among European currencies, the euro—which emerged as the strongest currency during U.S. trading hours—rose against the U.S. dollar. The EUR/USD pair climbed from 1.0823 to 1.0925, matching this month’s high. From a technical perspective, the EUR/USD 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 report at 4:55 PM, the Eurozone’s employment report and consumer price index at 6:00 PM, and Canada’s real GDP at 9:30 PM,U.S. Personal Income and U.S. PCE Deflator at 9:30 PM, the U.S. Chicago PMI at 10:45 PM, the U.S. University of Michigan Consumer Sentiment Index at 11:00 PM, remarks by ECB President Lagarde at 12:00 AM, and remarks by New York Fed President Williams at 4:05 AM. We will be closely monitoring the upside potential for the euro as we approach the end of the month.
Author: Keisuke Sakurai
