Should we be wary of further downside potential for the euro against the U.S. dollar?

Should we be wary of further downside potential for the euro against the U.S. dollar?

28.02.2024

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen after the January U.S. durable goods orders report, released yesterday, showed a deterioration in the core month-over-month figure from the previous reading of 0.5% to -0.3%. The USD/JPY pair fell from 150.708 to 150.072.A slight rebound has been observed during today’s Asian trading session. We will assess whether the US dollar will continue to decline against the yen by monitoring today’s economic data releases.

Despite the fact that Germany’s March GfK Consumer Confidence Index, released yesterday, improved to -29.0 from -29.7 the previous month, the euro fell slightly against the U.S. dollar. The EUR/USD pair dropped from 1.0865 to 1.0832. During today’s Asian trading session, it broke below the 75-period moving average on the hourly chart and is testing lower levels. We will closely monitor whether the euro shows signs of recovery during U.S. trading hours.

Today’s schedule includes the Australian CPI at 9:30, the RBNZ policy rate and statement at 10:00, the Japanese Economic Sentiment Index at 14:00, the Turkish trade balance at 16:00, the Eurozone Consumer Confidence Index and Economic Sentiment at 19:00, the U.S. MBA Mortgage Applications Index at 21:00, and the Canadian current account balance at 22:30,U.S. Real GDP and U.S. Wholesale Inventories, U.S. Weekly Crude Oil Inventories at 12:30 a.m., Russian Industrial Production at 1:00 a.m., and remarks by U.S. Atlanta Fed President Bostic at 2:00 a.m. We will carefully monitor the downside potential for the euro, which is currently falling against the U.S. dollar.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

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

3. 16.04.2026New

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

4. 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

5. 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?

6. 13.04.2026

   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. 10.04.2026

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

8. 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?

9. 08.04.2026

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

10. 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