Will the falling euro-dollar pair continue to slide during U.S. trading hours? Caution is advised.

Will the falling euro-dollar pair continue to slide during U.S. trading hours? Caution is advised.

06.07.2023

In the U.S. currency market yesterday, the USD/JPY pair rose slightly immediately after the release of U.S. May durable goods orders, which showed an increase to 1.8% from 1.7% the previous month.USD/JPY rose from 144.083 to 144.728, trading in a narrow range around the 20-period moving average (MA) on the hourly chart. During today’s Asian session, downward pressure on USD/JPY has intensified around the 144.309 level, and on the 4-hour chart, the pair has already broken below the 20-period MA. However, since it remains above the 10-period MA on the daily chart, we will be watching to see if the direction becomes clearer during U.S. trading hours.

European currencies fell against the U.S. dollar, with the euro dropping after the release of the Eurozone’s May Producer Price Index (PPI), which showed a year-over-year decline from 1.0% in the previous month to -1.5%.The euro fell against the U.S. dollar from 1.0907 to 1.0850. On the 4-hour chart, the decline took the form of lower highs. However, since it has not yet broken below the recent low of 1.0835, we will be watching to see if a rebound occurs at this support level.

Today’s schedule includes German manufacturing new orders at 3:00 PM, UK construction PMI at 5:30 PM, Eurozone retail sales at 6:00 PM, US MBA mortgage applications index at 8:00 PM, US Challenger job cuts at 8:30 PM, US ADP employment report at 9:15 PM, US initial jobless claims at 9:30 PM, and Canada’strade balance, US trade balance, 9:45 PM US Logan: Dallas Fed President remarks, 10:45 PM US Services PMI, 11:00 PM US ISM Non-Manufacturing Index, US JOLTS Job Openings, 12:00 AM US Weekly Crude Oil Inventories, and 1:00 AM German Nagel: Bundesbank President remarks are scheduled.We will carefully assess the direction of the EUR/USD pair to see if it will continue to decline during U.S. trading hours.

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