search

An incredible cashback rate!
40% of the spread!

Join Now

All Eyes on the Euro's Movements at the Start of the Week

Market Report

  1. homeHOME
  2. Market Report
  3. All Eyes on the Euro's Movements at the Start of the Week

All Eyes on the Euro's Movements at the Start of the Week

03.04.2023

Today's Highlights
  1. European Manufacturing PMI
  2. U.S. Construction Spending

In the U.S. currency market last weekend, the Canadian dollar emerged as the strongest currency during U.S. trading hours, causing the EUR/CAD pair to fall by approximately 120 pips from 1.4769 to 1.4646. Furthermore, during today’s Asian trading session, the pair opened slightly lower and has already touched 1.4579.On the higher-timeframe weekly chart, the RSI has shown divergence after touching 70, so we need to be cautious about whether prices will trend downward at the start of the week.

Despite the fact that the Harmonized Index of Consumer Prices (HICP) for the eurozone, released last weekend, rose to 5.7% year-over-year from 5.6% the previous month, the euro fell against the yen. The euro/yen pair fell by approximately 1.7 yen, from 145.652 to 143.909.It broke below the 75-period moving average (MA) on the hourly chart. On the weekly chart, the RSI for the EUR/JPY pair is showing signs of a downtrend, while on the monthly chart, it has been hovering around 70, making it very difficult to gauge the overall direction. For the time being, we will focus on the direction indicated by the shorter-term time frames.

Today, at 16:00: Turkey’s Consumer Price Index and Producer Price Index; at 16:30: Switzerland’s Manufacturing PMI; at 16:50: France’s Manufacturing PMI; at 16:55: Germany’sManufacturing PMI, at 5:00 PM the Eurozone Manufacturing PMI, at 5:30 PM the UK Manufacturing PMI, at 6:00 PM the South African Manufacturing PMI, at 10:45 PM the U.S. Manufacturing PMI, at 11:00 PM the U.S. ISM Manufacturing Index and U.S. Construction Spending,and at 29:15, remarks by Fed Governor Cook are scheduled. Since most major markets in Europe and the U.S. will be closed on Friday, the 7th, we should pay close attention to price movements in the first half of the week.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Market Participants May Be Carefully Monitoring the Euro's Upside Potential at Month-End

Next Article

All eyes are on whether remarks by Tenreiro, a member of the MPC, will cause the pound to move
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for an explanation of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of sudden price fluctuations (sharp rises or falls in exchange rates)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings