All eyes are on whether the rising euro will maintain its momentum and continue to climb

All eyes are on whether the rising euro will maintain its momentum and continue to climb

26.04.2024

In the previous session, the U.S. dollar weakened during U.S. trading hours, falling against the euro. The EUR/USD pair rose from 1.0678 to 1.0740, rebounding from the 200-period EMA on the hourly chart. On the 4-hour chart, the pair is in an uptrend, supported by the 20-period MA, while on the daily chart, it is trading just below the 20-period MA. We will be watching closely to see if the dollar’s weakness continues.

European currencies rose against the yen after the German GfK Consumer Confidence Index for May, released yesterday, improved to -24.2 from -27.4 the previous month. The euro/yen pair extended its gains for the fifth consecutive day, rising from 165.947 to 167.096. On the 4-hour chart, an uptrend is forming along the 10-period moving average, while the daily chart shows a band walk along the +2σ line of the Bollinger Bands.

Today’s economic indicators include: Japan’s Tokyo Consumer Price Index at 8:30, Australia’s Q1 Producer Price Index at 10:30, a press conference by Bank of Japan Governor Ueda at 15:30, France’s Consumer Confidence Index at 15:45, remarks by SNB Governor Jordan at 17:00, Eurozone Money Supply, Mexico’s Employment Statistics at 21:00,Brazil’s Consumer Price Index, 9:30 PM: U.S. Personal Income, U.S. Personal Spending, U.S. PCE Deflator, and 11:00 PM: U.S. University of Michigan Consumer Sentiment Index. We will carefully assess whether the rising euro can maintain its momentum and continue to climb.

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