search
Install Now

An incredible cashback rate!
40% of the spread!

Join Now

With the euro rising on the back of strong German ZEW Economic Sentiment Index data, attention is turning to its upside potential

Market Report

With the euro rising on the back of a strong German ZEW Economic Sentiment Index, should we keep a close eye on its upside potential?

15.05.2024

Today's Highlights
  1. Europe: Industrial Production
  2. U.S. Consumer Price Index

In U.S. currency trading yesterday, the Canadian dollar weakened during U.S. trading hours after Canada’s March wholesale sales figures, released yesterday, deteriorated to -1.1% from 0.0% the previous month.The AUD/CAD pair rose from 0.9004 to 0.9048. On the hourly chart, the 200-period SMA is acting as a support level, while on the 4-hour chart, the 75-period MA is providing support. Since the uptrend along the 10-period MA continues on the daily chart, we will be watching for upside potential during U.S. trading hours.

European currencies rose, with the euro gaining against the U.S. dollar after Germany’s May ZEW Economic Sentiment Index, released yesterday, rebounded to 47.1 from 42.9 the previous month, exceeding market expectations of 45.9.The EUR/USD pair rose from 1.0767 to 1.0825. A rebound was observed from the 20-period moving average (MA) on the hourly chart. Similarly, on the 4-hour chart, the 20-period MA is acting as a support level, and on the daily chart, the price has broken above the line where the long-term and short-term MAs converge with a real body.

Today’s schedule includes the Australian Wage Index at 10:30, Indonesia’s Trade Balance at 13:00, Sweden’s Consumer Price Index at 15:00, France’s Consumer Price Index at 15:45, the Eurozone’s Real GDP at 18:00, and the Eurozone’sIndustrial Production, at 8:00 PM: South Africa’s Retail Sales and the U.S. MBA Mortgage Applications Index; at 9:15 PM: Canada’s Housing Starts and at 9:30 PM: Canada’s Manufacturing Sales, the U.S. Consumer Price Index, and U.S. Retail Sales; at 11:00 PM: U.S. Business Inventories,U.S. NAHB Housing Market Index, and remarks by U.S. Federal Reserve Vice Chair Bar; at 23:30, U.S. weekly crude oil inventories; and at 25:00, Russian real GDP. We will be closely monitoring the euro’s upside potential, given the strong rise in the German ZEW Economic Sentiment Index.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

With tomorrow’s U.S. CPI release approaching, will there be a shift in the U.S. dollar’s price movement? All eyes are on the U.S. dollar.

Next Article

Concerns Over Further Declines in the U.S. Dollar Following a Drop in U.S. CPI
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number (rate). Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are paying close attention to this feature.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings