Will the euro, which has been struggling to gain ground, finally stop falling?

Will the euro, which has been struggling to gain ground, finally stop falling?

15.03.2024

In yesterday’s U.S. currency markets, the U.S. dollar emerged as the strongest currency during U.S. trading hours after the release of February U.S. retail sales data showed an improvement from the previous month’s 0.8% decline to a 0.6% increase. The dollar surged particularly against the euro, which had been showing weakness. The EUR/USD pair fell by approximately 70 pips from 1.0954 to 1.0880.On the daily chart, the 20-day moving average is acting as support and has halted the decline, so we should watch for a potential rebound during European trading hours.

European currencies fell against the yen as Germany’s January current account balance, released yesterday, declined to €29.7 billion from €31.4 billion the previous month.The EUR/JPY pair fell from 161.914 to 161.101, breaking below the 200-period SMA on the 4-hour chart. On the daily chart, the pair is declining as it faces resistance at the 20-period MA, so we should remain vigilant for further weakness in the euro against the yen during European trading hours.

Today’s economic indicators include the New Zealand Manufacturing PMI at 6:30, Japan’s Tertiary Industry Activity Index at 13:30, France’s Consumer Price Index at 16:45, Canada’s Housing Starts at 21:15, and Canada’s Wholesale Sales at 21:30,Canada’s International Securities Turnover, the U.S. NY Fed Manufacturing Index, the U.S. Import Price Index, U.S. Industrial Production and Capacity Utilization at 10:15 PM, and the U.S. University of Michigan Consumer Sentiment Index at 11:00 PM. We will carefully assess whether the euro, which has been facing resistance on the upside, will stop its decline.

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