With the euro-dollar exchange rate hitting a new low for the year and approaching last year’s low, investors should be wary of further downside potential.

With the euro-dollar exchange rate hitting a new low for the year and approaching last year’s low, investors should be wary of further downside potential.

14.11.2024

In the U.S. currency market yesterday, the U.S. dollar rose against the euro following the release of the U.S. October CPI, which showed a 0.2-point increase. The EUR/USD pair fell from 1.0653 to 1.0554. It moved from above the 20-period moving average on the hourly chart to below it. Furthermore, during today’s Asian trading session, the pair has continued to test lower levels and has already hit a new low for the year.

European currencies saw the euro fluctuate against the yen following the release of France’s third-quarter employment data yesterday, which showed the unemployment rate rising to 7.4% from the previous reading of 7.3%.The EUR/JPY pair traded between 163.630 and 164.803. Price action was seen straddling the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the 200-period simple moving average (SMA) is acting as support, while on the daily chart, the price has already broken below the 200-period SMA.

Today’s schedule includes Japan’s domestic and foreign securities investment data at 8:50, the UK’s RICS House Price Index at 9:01, Australia’s employment statistics at 9:30, Thailand’s consumer confidence index at 12:30, India’s wholesale price index at 15:30, Sweden’s consumer price index at 16:00, and the EU’s real GDP at 19:00,at 10:30 PM: US Producer Price Index and US Initial Jobless Claims; at 11:00 PM: Remarks by Barkin, President of the Richmond Fed; at 1:00 AM: US Weekly Crude Oil Inventories; at 4:00 AM: Remarks by Lagarde, ECB President; and at 5:00 AM: Remarks by Powell, Fed Chair.We should watch for further downside potential in the EUR/USD pair, which has hit a new low for the year and is approaching last year’s low.

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