Will the market wait and see how the euro moves while European markets are closed?

Will the market wait and see how the euro moves while European markets are closed?

01.05.2023

Last weekend, the U.S. dollar strengthened against the yen, with the USD/JPY pair rising from 133.363 to 136.757. The pair followed an uptrend along the 10-period moving average on the hourly chart. On the April monthly chart, which closed last weekend, the USD/JPY formed a bullish candle with a lower wick, indicating a higher low. Ahead of this week’s FOMC meeting, we will be closely monitoring whether the U.S. dollar continues to strengthen against the yen.

European currencies saw the euro fluctuate against the U.S. dollar after Germany’s April consumer price index, released last weekend on April 28, came in at 7.2% year-over-year, down from 7.4% the previous month. The EUR/USD pair traded within a range of 1.0962 to 1.1044, searching for direction, with volatility observed around the 200-period simple moving average (SMA) on the hourly chart.On the daily chart, while the EUR/USD pair is finding support at the 20-day moving average, the daily RSI is showing divergence just below the 70 level. We will be closely monitoring the EUR/USD’s price action at the start of the month.

Today’s schedule includes the India Manufacturing PMI and Japan’s Consumer Price Index at 2:00 PM, the U.S. Manufacturing PMI at 10:45 PM, U.S. Construction Spending and the U.S. ISM Manufacturing Index at 11:00 PM, the U.S. 6-month Treasury bill auction at 12:30 AM, and Brazil’s trade balance at 3:00 AM. With European markets closed, I’d like to wait and see if the euro sees any significant price movements.

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