Will the euro, which has been gaining ground, continue its upward trend?

Will the euro, which has been gaining ground, continue its upward trend?

11.01.2024

In the previous day’s U.S. currency markets, the U.S. dollar rose against the yen after John Williams, President of the New York Federal Reserve Bank, stated, “We are still halfway to reaching our 2% inflation target. It is too early to begin cutting rates.”The USD/JPY pair rose from 144.315 to 145.815, breaking through the key 145-yen level and holding steady there. As the pair continues to trade in the 145-yen range during today’s Asian session, we should remain vigilant for any potential shifts following today’s U.S. CPI release.

European currencies strengthened against the U.S. dollar, partly due to the improvement in France’s November industrial production, which rose to +0.5% from -0.3% the previous month, as reported yesterday. The EUR/USD pair rose from 1.0922 to 1.0984. It broke above the 200-period simple moving average (SMA) on the hourly chart.On the higher-timeframe daily chart, the price has diverged upward from the 20-day moving average and is trending higher, so we should watch for further upside momentum during European trading hours.

Today's economic indicators include Japan's Economic Sentiment Index at 2:00 PM and the ECB Monthly Report at 6:00 PM, followed by South Africa's Manufacturing Production at 6:00 PM, Mexico's Industrial Production at 9:00 PM, the U.S. Consumer Price Index at 10:30 PM, and the U.S.The ECB Monthly Report at 6:00 PM, South Africa’s Manufacturing Production at 8:00 PM, Mexico’s Industrial Production at 9:00 PM, the U.S. Consumer Price Index and Initial Jobless Claims at 10:30 PM, U.S. Weekly Natural Gas Inventories at 12:30 AM, the U.S. 30-Year Treasury Auction at 3:00 AM, and the U.S. Budget Balance at 4:00 AM.We need to carefully assess whether the euro, which has gained ground, will continue its upward trend.

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