Should we focus on the upside potential of the rising euro?

Should we focus on the upside potential of the rising euro?

25.04.2024

In yesterday’s U.S. trading session, the Canadian dollar rose against the yen after Canada’s February retail sales figures, released yesterday, showed a narrowing of the decline to -0.1% from -0.3% the previous month. The CAD/JPY pair rose from 112.853 to 113.381.It has continued to rise during today’s Asian session, already climbing to 113.498. On the 4-hour chart, the 20-day moving average (MA) is acting as support, triggering a rebound, and on the daily chart, the pair has risen for six consecutive days; therefore, traders should watch for corrective price movements during U.S. trading hours.

European currencies rose against the yen as the German IFO Business Climate Index for April, released yesterday, rose to 89.4 from the previous reading of 87.8.The EUR/JPY pair rose from 165.385 to 166.454, marking its fourth consecutive day of gains. On the 4-hour chart, a band walk along the +2σ line of the Bollinger Bands is evident, and on the daily chart, the RSI is hovering just below 70 with some room to spare, so we will be watching for further upside momentum during European trading hours.

Today’s schedule includes South Korea’s real GDP at 8:00, Japan’s foreign and domestic securities investment at 8:50, Malaysia’s consumer price index at 13:00, Japan’s economic sentiment index at 14:00, Germany’s GfK consumer confidence survey at 15:00, France’s business climate index at 15:45, Hong Kong’s trade balance at 17:30,South Africa’s Producer Price Index at 6:30 PM, Turkey’s Central Bank Policy Rate at 8:00 PM, U.S. Initial Jobless Claims, U.S. Q1 GDP, and U.S. Wholesale Inventories at 9:30 PM, U.S. Existing Home Sales at 11:00 PM, and remarks by German Bundesbank President Nagel at 12:15 AM.We intend to cautiously monitor the upside potential 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