Market participants are likely to keep a close eye on the euro’s potential for recovery following the ECB announcement

Market participants are likely to keep a close eye on the euro’s potential for recovery following the ECB announcement

15.04.2024

Last weekend, the U.S. dollar strengthened against the euro despite the fact that the University of Michigan’s April Consumer Sentiment Index, released on the 12th, fell to 77.9 from 79.4 the previous month. The EUR/USD pair fell from 1.0728 to 1.0622, dropping to the -2σ level of the hourly Bollinger Bands.On the 4-hour chart, the RSI has fallen below 30—the oversold threshold—to 20, and a similar oversold signal has appeared on the daily chart as well.

European currencies fell against the yen after the final reading of Germany’s March consumer price index, released last weekend, showed a year-over-year increase of 2.2%, unchanged from the previous month.The EUR/JPY pair fell from 164.395 to 162.273, touching the -3σ line of the hourly Bollinger Bands. Similarly, on the 4-hour chart, the pair fell to the -3σ line of the Bollinger Bands, and on the daily chart, price fluctuations are observed as the price moves from above the 20-day moving average (MA) to below it.

Today’s economic indicators include Japan’s machinery orders at 8:50, Switzerland’s producer import prices and India’s wholesale prices at 15:30, Turkey’s employment statistics at 16:00, and the Eurozone’sIndustrial Production, at 19:00: Israel Employment Statistics, at 20:15: UK remarks by BOE Deputy Governor Breeden, at 21:15: Canada Housing Starts, at 21:30: Canada Manufacturing Sales, US NY Fed Manufacturing Index, US Retail Sales, and at 23:00: US Business Inventories, US NAHB Housing Market Index.We will closely monitor the euro’s potential for recovery after its initial weakness following the ECB announcement.

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