Should we watch for a rebound in the euro, which has been falling against the Oceania currencies?

Should we watch for a rebound in the euro, which has been falling against the Oceania currencies?

14.04.2023

In the previous day’s U.S. currency trading, the U.S. dollar became the weakest currency after the U.S. March Producer Price Index (PPI), released during U.S. trading hours, showed declines in both the headline and core indices from the previous month. The USD/JPY pair fell from 133.403 to 132.029, marking its second consecutive daily decline.From a technical perspective, USD/JPY has pulled back after encountering resistance at the 200-day EMA on the daily chart and is now moving toward the lower boundary of the uptrend line on the 4-hour chart; therefore, caution is warranted regarding further declines during U.S. trading hours.

European currencies fell against the Oceania currencies after Germany’s March consumer price index was released, showing a year-on-year rate of 7.4%, unchanged from the previous month.The EUR/AUD pair fell by approximately 180 pips from 1.6446 to 1.6264, marking a pullback after hitting a new high for the year. However, since the weekly RSI for EUR/AUD has not yet touched 70, indicating room for further movement, we will be watching price action during European trading hours.

Today, at 3:00 PM, Germany’s Wholesale Price Index; at 3:30 PM, Switzerland’s Producer Import Prices; at 3:45 PM, France’s Consumer Price Index; at 9:30 PM, Canada’s Manufacturing Sales, the U.S. Import Price Index, and U.S. Retail Sales; at 9:45 PM, remarks by U.S. Federal Reserve Governor Waller; at 10:00 PM, Canada’s Existing Home Sales;at 10:15 PM US Industrial Production, at 11:00 PM US Business Inventories and the University of Michigan Consumer Sentiment Index, at 12:30 AM remarks by UK MPC member Tenreyro, and at 3:15 AM remarks by German Bundesbank President Nagel. We will be watching for any rebound in the euro, which has been falling against the Oceania currencies.

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