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

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

04.03.2024

Last weekend, the U.S. dollar fell across the board during U.S. trading hours after the University of Michigan’s February Consumer Sentiment Index, released on the 1st, came in significantly lower at 76.9, down from 79.6 the previous month.The EUR/USD pair rose from 1.0798 to 1.0842. The daily 200-day EMA acted as support, causing the pair to rebound off the line. Technically, the EUR/USD has shown a rebound at the weekly 20-day MA, so it will be worth watching whether the pair extends its gains at the start of the week.

European currencies saw the euro rise against the pound despite the release of the Eurozone’s February Harmonized Index of Consumer Prices (HICP), which showed core year-over-year inflation falling by 0.2 percentage points to 3.1% from the previous month’s 3.3%. The euro/pound pair rose from 0.8554 to 0.8575, breaking well above the +3σ line of the hourly Bollinger Bands.On the daily chart, the pair is approaching the threshold of entering an uptrend along the 20-day moving average, so we will be watching closely to see if the pound weakens during European trading hours.

Today’s schedule includes Japan’s monetary base at 8:50, South Korea’s Manufacturing PMI and Australia’s housing construction permits at 9:30, Turkey’s Consumer Price Index and Producer Price Index at 16:00, Switzerland’s Consumer Price Index at 16:30, France’s fiscal balance at 16:45,at 6:00 PM, the Eurozone Investor Sentiment Index; at 9:00 PM, Mexico’s Gross Fixed Capital Formation; at 1:00 AM, remarks by Harker, President of the Philadelphia Fed; and at 1:30 AM, a U.S. 6-month Treasury bill auction. We will carefully assess the upside potential for the euro, which has risen against both the U.S. dollar and the British pound.

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