All eyes are on whether the euro will rise following the release of economic indicators during European trading hours

All eyes are on whether the euro will rise following the release of economic indicators during European trading hours

08.01.2024

Last weekend, the Canadian dollar fell against the yen from 109.019 to 108.043 following the release of Canada’s December employment report on the 5th, which showed the unemployment rate remained unchanged from the previous month at 5.8% and the number of employed persons declined from 24,900 to 24,890.Technically, the CAD/JPY pair has paused its upward trend along the 4-hour 10-day moving average (MA) and has now broken below the 10-day MA. Therefore, we will closely monitor whether the CAD/JPY pair continues to weaken at the start of the week.

European currencies rose, with the euro gaining against the U.S. dollar after the Eurozone’s December consumer price index, released last weekend, rose to 2.9% year-on-year from 2.4% the previous month.The EUR/USD pair rebounded from 1.0877 to 1.0998. The 200-period simple moving average (SMA) on the 4-hour chart has once again served as a support line. If the price can break above the 1.0971 level with a solid candle on the 4-hour chart, it could form a double bottom; therefore, we will be watching to see if it can break through the recent high.

Today, at 4:00 PM: German manufacturing orders, German industrial production, German trade balance, Norwegian manufacturing production; at 4:30 PM: Swiss consumer price index, Swiss retail sales;Hungarian Retail Sales, at 4:45 PM: French Total Reserve Assets, at 6:30 PM: Eurozone Investor Sentiment Index, at 7:00 PM: Eurozone Unemployment Rate and Eurozone Retail Sales, at 9:00 PM: Mexican Consumer Confidence Index, at 12:00 AM: U.S. Employment Trends Index, and at 1:30 AM: U.S. 6-Month Treasury Bill Auction.We will be closely monitoring whether the euro rises following the release of these indicators during European 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