All eyes are on whether the euro-dollar exchange rate, which has been recovering gradually, will rise further

All eyes are on whether the euro-dollar exchange rate, which has been recovering gradually, will rise further

12.09.2023

In the previous day's U.S. currency trading, the U.S. dollar fell against the euro.The EUR/USD pair rose slightly from 1.0707 to 1.0759. The rise was gradual, following the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, yesterday’s rise caused the price to jump from below the 20-period MA to above it. However, the EUR/USD pair remains below the lower boundary of the daily uptrend line and has not yet returned to an uptrend, so caution is advised regarding price movements during European trading hours.

Among European currencies, the Swiss franc fell against the yen. The CHF/JPY pair dropped from 165.458 to 163.832, hitting a new low for the month.Although the CHF/JPY pair has broken below the daily 20-day moving average (MA) support line following yesterday’s decline, the 10-day MA is acting as a support line on the higher-timeframe weekly chart. We will need to closely monitor whether the pair continues to decline toward the low 160-yen range—the weekly 20-day MA—as part of a technical correction.

Today, the UK employment report and Norway’s GDP will be released at 3:00 PM; the German ZEW Economic Sentiment Index and the Eurozone ZEW Economic Sentiment Index at 6:00 PM; the US NFIB Small Business Optimism Index at 7:00 PM; Brazil’s Consumer Price Index and Industrial Production, and India’s Consumer Price Index at 9:00 PM; the US Redbook Large Retailer Sales at 9:55 PM;at 2:00 AM, the U.S. 10-year Treasury auction, and at 6:05 AM the next day, remarks by RBNZ Deputy Governor Silk. We will be watching to see if the EUR/USD pair, which has been recovering gradually, will continue to rise.

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