Keep an eye on the U.S. dollar, which is rising in tandem with the dollar index rebounding to 106

Keep an eye on the U.S. dollar, which is rising in tandem with the dollar index rebounding to 106

29.04.2024

Last weekend, the U.S. dollar rose after U.S. March personal income, released on the 26th, increased from 0.3% to 0.5%.The EUR/USD pair fell from 1.0752 to 1.0673. On the hourly chart, the price dropped from the +3σ to the -3σ Bollinger Bands. On the 4-hour chart, the 200 EMA acted as resistance, triggering a pullback. On the daily chart, the price entered a downtrend after touching the 20 MA. We will be watching closely to see if the US dollar continues to strengthen against the euro.

European currencies fell, with the euro dropping against the pound for the fourth consecutive day, partly due to France’s April consumer confidence index falling to 90 from 91 the previous month.On the hourly chart, the EUR/GBP pair fell as its upside was capped by the 200-period simple moving average (SMA). On the 4-hour chart, the price has moved from above the 20-period SMA to below it and has already broken below the 200-period SMA. On the daily chart, the pair has fully retraced last week’s gains, so traders should be wary of a continued decline during European trading hours.

Today's economic indicators include Sweden's real GDP at 3:00 PM,at 4:00 PM: Turkey’s Economic Confidence Index; at 6:00 PM: Eurozone Consumer Confidence Index, Eurozone Economic Sentiment, and Eurozone Manufacturing PMI; at 8:00 PM: Brazil’s General Price Index; at 9:00 PM: Germany’s Consumer Price Index; at 11:30 PM: the U.S. Dallas Fed Manufacturing Activity Index; and at 12:30 AM: the U.S. 6-month Treasury bill auction.We will closely monitor the US dollar, which is rising in tandem with the Dollar Index rebounding to 106.

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