Focus on the upside momentum of the euro against the U.S. dollar, which has hit a new high for the year
14.04.2025
- Switzerland—Producer Import Prices
- U.S. - Birkin: Remarks by the President of the Richmond Federal Reserve Bank
Last weekend, the U.S. dollar fell against the yen after the U.S. March Producer Price Index (PPI), released on the 11th, showed a year-over-year decline from 3.2% the previous month to 2.7%. The USD/JPY exchange rate fell from 144.523 to 142.046.Price action was observed crossing the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, a decline along the 10-period MA was confirmed, and on the daily chart, the price touched the -3σ line of the Bollinger Bands.
Among European currencies, the euro rose against the U.S. dollar. The EUR/USD pair rose from 1.1181 to 1.1476. The uptrend along the 20-period moving average on the hourly chart continued.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 hit a new year-to-date high, reaching levels not seen since February 2022. We will be watching price movements during U.S. trading hours to see if the euro’s strength holds.
Today’s economic indicators include Japan’s industrial production at 13:30, Switzerland’s producer import prices at 15:30, Canada’s wholesale sales at 21:30, and U.S. Federal Reserve Governor Barkin’s remarks at 25:00:Richmond Fed President remarks at 25:00, U.S. Fed Governor Waller remarks at 26:00, and U.S. Philadelphia Fed President Harker remarks at 7:00 the following day. We will be watching to see if the euro/dollar pair, which has hit a new year-to-date high, continues its upward momentum.
Author: Keisuke Sakurai
