Attention is turning to whether the euro, which has continued to fall against the U.S. dollar, has room to recover
01.05.2025
- Australia's Import Price Index
- U.S. PMI (Purchasing Managers' Index)
In the U.S. currency market yesterday, the U.S. dollar rose against the yen despite the fact that the Chicago PMI for April, released yesterday, fell to 44.6 from 47.6 the previous month.The USD/JPY pair rose from 142.129 to 143.188. A reversal occurred after the price touched the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the price has recovered from the -2σ Bollinger Band to the centerline, while on the daily chart, it has been unable to surpass the recent high set two days ago.
European currencies fell as the euro weakened against the U.S. dollar following the release of preliminary German April Harmonized Index of Consumer Prices (HICP) data yesterday, which showed a year-over-year decline from 2.3% in the previous month to 2.2%.The euro fell against the U.S. dollar for the second consecutive day, dropping from 1.1398 to 1.1317. On the 4-hour chart, the price has fallen just below the 75-day moving average (MA), and on the daily chart, it has broken below the 10-day MA support line.
Today’s economic indicators include the Australian Import Price Index and Trade Balance at 10:30, the Japanese Consumer Sentiment Index at 14:00, the UKUK Consumer Credit, UK Money Supply, and UK Manufacturing PMI at 17:30, US Challenger Layoffs at 20:30, US Initial Jobless Claims at 21:30, US PMI at 22:45, and US Construction Spending and US ISM Manufacturing PMI at 23:00.We will be watching for signs of a rebound in the euro, which has continued to fall against the US dollar.
Author: Keisuke Sakurai
