Will the euro, now the strongest currency, continue to rise during U.S. trading hours? All eyes are on whether this trend will hold.

Will the euro, now the strongest currency, continue to rise during U.S. trading hours? All eyes are on whether this trend will hold.

04.03.2025

In the U.S. currency market yesterday, the U.S. dollar fell against the yen despite the U.S. February PMI (Purchasing Managers’ Index) recovering from 51.6 to 52.7, as reported yesterday. Unlike other yen crosses, the USD/JPY pair fell from 151.297 to 149.112.On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price has rebounded from the 75-period MA, which is acting as a resistance level, and on the daily chart, it is falling as it retests the support line of the 200-period simple moving average (SMA), which it had already broken below.

European currencies surged during U.S. trading hours. The euro rose against the U.S. dollar from 1.0389 to 1.0505. The price broke above the resistance line formed by the 200-period simple moving average (SMA) on the hourly chart with a real body candle.On the 4-hour chart, the pair appears to be rebounding from the 200-period moving average, and on the daily chart, it has been trading within the same price range for approximately 10 business days. It will be interesting to see if the euro’s upward trend continues.

Today’s economic indicators include New Zealand housing permits at 6:45, Japan’s employment statistics at 8:30, Japan’s fourth-quarter capital expenditure and monetary base at 8:50, Australia’s current account balance and retail sales at 9:30, South Korea’s manufacturing PMI, and Australia’sRBA Meeting Minutes, at 14:00: Japan’s Consumer Sentiment Index, at 16:45: France’s Budget Balance, at 18:30: South Africa’s Real GDP, at 19:00: Eurozone Employment Statistics, and at 28:20: remarks by U.S. Federal Reserve Bank of New York President Williams.We will be closely monitoring whether the euro, which has become the strongest currency, will continue to rise during U.S. trading hours.