Should we keep an eye on the direction of the rising euro?

Should we keep an eye on the direction of the rising euro?

09.04.2024

In yesterday's U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 111.404 to 111.894.It has continued to rise during today’s Asian trading session, touching 111.933. On the hourly chart, CAD/JPY is seen rising along the 20-day moving average (MA), and on the 4-hour chart, it is currently rising from below the 20-day MA to above it. We will be watching closely to see if the Canadian dollar maintains its momentum against the yen.

European currencies rose, with the euro gaining against the yen following the release of Germany’s February industrial production data yesterday, which showed a year-on-year decline of 4.9%, an improvement from the previous month’s 5.5% drop. The EUR/JPY pair rose from 164.140 to 164.899, forming a trend along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the EUR/JPY is trading above the 10-period MA, so we will be watching price movements during European trading hours.

Today’s economic indicators include the UK BRC same-store sales at 8:01, the Australian Westpac Consumer Confidence Index at 9:30, the Australian NAB Business Confidence Index at 10:30, the Japanese Consumer Sentiment Index at 14:00, and the Frenchtrade balance and current account balance, at 17:00 Taiwan’s Consumer Price Index, at 19:00 the U.S. NFIB Small Business Optimism Index, at 20:00 South Africa’s Manufacturing Production, at 21:00 Mexico’s Consumer Price Index, at 25:30 remarks by SNB Vice Chairman Schlegel, and at 26:00 the U.S. 3-year Treasury auction.We want to carefully assess the direction of the rising euro.

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