It remains to be seen whether the trend of buying the euro and selling the U.S. dollar will continue

It remains to be seen whether the trend of buying the euro and selling the U.S. dollar will continue

27.12.2023

In yesterday’s U.S. currency trading, the U.S. dollar rose slightly against the yen after the U.S. S&P Case-Shiller Home Price Index for October, released yesterday, showed a year-over-year increase of 4.87%, up from 3.92% the previous month.The USD/JPY pair rose from 142.0844 to 142.644, showing an upward trend relative to the 20-period moving average (MA) on the hourly chart. During today’s Asian session, the USD/JPY is trading just below the 200-period simple moving average (SMA) on the hourly chart. However, if it breaks above the 200-SMA during the European session, the pair could strengthen, so we will be keeping a close eye on the U.S. dollar.

Among European currencies, the euro rose against the pound. The EUR/GBP pair climbed from 0.8660 to 0.8686, reaching the +2σ level of the 4-hour Bollinger Bands. On the higher-timeframe daily chart, the EUR/GBP has firmly broken above the 200-day SMA resistance line with a solid candlestick body, so we will be watching closely to see if the euro continues to rise.

Today, at 14:00, Japan’s new housing starts; at 16:00, Norway’s retail sales; at 18:00, Switzerland’s investor confidence index; at 20:00, Israel’s industrial production; at 20:30, India’s money supply; at 22:55, the U.S. Redbook large-scale retail sales;at 12:00 AM: U.S. Richmond Fed Manufacturing Index; at 1:00 AM: Russia’s Industrial Production and Retail Sales; at 3:00 AM: U.S. 5-Year Treasury Auction; and at 4:00 AM: South Korea’s Bank of Korea Manufacturing Business Outlook Index. We should watch to see if the trend of buying the euro and selling the U.S. dollar continues.

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