Will the euro, now the weakest currency, show signs of a rebound, or should we wait and see?

Will the euro, now the weakest currency, show signs of a rebound, or should we wait and see?

30.01.2024

In the previous day’s U.S. trading session, the U.S. dollar weakened and fell against the yen. The USD/JPY pair dropped from 148.339 to 147.262. The yen has continued to strengthen during today’s Asian trading session, touching 147.189. Technically speaking, the USD/JPY pair is hovering just below the 75-period moving average (MA) on the 4-hour chart; however, since it has been forming lower highs, traders should be wary of a break below the 75-period MA.

Among European currencies, the euro was the weakest throughout the day. The euro/yen pair fell by approximately 140 pips, from 160.831 to 159.418. The upward trend seen in the first half of this month has paused, resulting in a pullback to just below the daily 20-day moving average. However, since the pair remains above the weekly 10-day moving average, we will be watching closely to see if a rebound leads to a move toward new highs.

Today’s schedule includes France’s Q4 GDP and consumer spending at 3:30 PM, Switzerland’s trade balance at 4:00 PM, Switzerland’s KOF Leading Index at 5:00 PM, Germany’s Q4 GDP at 6:00 PM, and the UK’smortgage approvals, UK consumer credit balances, and UK mortgage lending figures; at 19:00, Eurozone Q4 GDP; at 23:00, US S&P/Case-Shiller Home Price Index; at 24:00, US JOLTS job openings; and at 24:30, remarks by German Bundesbank President Nagel.We will closely monitor whether the euro, which has become the weakest currency, shows any signs of a rebound.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   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

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   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?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed