Market participants are likely keeping a close eye on the downside potential of the weakening U.S. dollar

Market participants are likely keeping a close eye on the downside potential of the weakening U.S. dollar

03.04.2025

In yesterday's U.S. currency trading, the U.S. dollar fell against the euro.The EUR/USD pair rose from 1.0781 to 1.0923. The hourly RSI surged to 77. On the 4-hour chart, a band walk along the +3σ line of the Bollinger Bands was observed, and on the daily chart, the pair is rising with momentum approaching last month’s high. Furthermore, as the U.S. dollar remains weak during today’s Asian trading session, we will be watching for further gains in the EUR/USD pair.

Among European currencies, the euro rose against the yen. The EUR/JPY pair climbed from 161.104 to 164.156, breaking through the +3σ line on the hourly Bollinger Bands. On the 4-hour chart, the pair has rebounded with the 200 EMA acting as support, and on the daily chart, it has broken above the resistance line formed by the 200 SMA. We will need to monitor price movements during U.S. trading hours to see if the euro’s upward trend continues.

Today's economic indicators include Japan's foreign and domestic securities investment at 8:50, Australia'sTrade Balance at 8:50, Germany’s Non-Manufacturing PMI at 9:30, Eurozone Services PMI at 17:00, UK Services PMI at 17:30, Eurozone Producer Price Index at 18:00, U.S. Challenger Layoffs at 20:30, release of the ECB Meeting Minutes, U.S. Initial Jobless Claims at 21:30, U.S. Trade Balance,Canada’s International Merchandise Trade, at 10:45 PM the US PMI Purchasing Managers’ Index, at 11:00 PM the US ISM Non-Manufacturing Index, and at 1:30 AM remarks by US Federal Reserve Vice Chair Jefferson are scheduled. We will be watching for further downside potential in the weakening US dollar.

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