FXOpen
The euro is showing mixed dynamics: EUR/USD is consolidating near strategic levels, while EUR/CAD continues its upward movement, supported by Canadian dollar weakness and fluctuations in oil prices. This performance comes amid anticipation of key economic releases: in Europe, the market is focused on PMI and inflation figures, while in the US attention is on private sector employment reports and manufacturing indicators. The threat of a US government shutdown adds uncertainty, heightening investor caution. The direction of further movement will depend on the balance of signals on both sides of the Atlantic: stronger eurozone inflation and softer US data may support the euro, whereas weak European numbers combined with resilient figures from the US/Canada could trigger a deeper correction.
EUR/USD
Last week, EUR/USD found support near 1.1645 and managed to climb back above 1.1700. The bullish momentum observed over three consecutive days has now slowed somewhat. Technical analysis of EUR/USD suggests potential growth towards 1.1780–1.1820, provided 1.1700 holds as support. Should euro sellers succeed in securing a move below 1.1700, the pair might once again test the recent low near 1.1645.
Key events that may influence EUR/USD pricing in the upcoming sessions include:
- Today at 10:55 (GMT+3): Germany Manufacturing PMI
- Today at 12:00 (GMT+3): Speech by Bundesbank representative Mauderer
- Today at 12:00 (GMT+3): Eurozone Consumer Price Index (CPI)
EUR/CAD
After breaking above the 2018 highs near 1.6150, EUR/CAD buyers continue to drive the uptrend. In case of negative euro-related news, the pair might correct back towards the recent extremes around 1.6200–1.6250. The next key resistance levels might be found at 1.6380–1.6400.
Key events that may influence EUR/CAD pricing in the upcoming sessions include:
- Today at 13:00 (GMT+3): OPEC meeting
- Today at 16:30 (GMT+3): Canada Manufacturing PMI
- Today at 16:30 (GMT+3): US Crude Oil Inventories
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips (additional fees may apply). Open your FXOpen account now or learn more about trading forex with FXOpen.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Stay ahead of the market!
Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.
Latest articles
FX Markets Are Changing: What’s Driving Currencies Now?
FX markets have become increasingly reactive in March, with geopolitical developments—particularly the US–Iran conflict—driving price action across currencies, commodities, and interest rate expectations.
In this update, we examine the key forces shaping the FX market right now,
GBP/USD Rises Following Bank of England Decision
Yesterday, the Bank of England’s decision had a significant impact on the pound, which strengthened against other currencies. Although the Official Bank Rate remained unchanged at 3.75%, the market was surprised by the “hawkish” signals, which sharply contrasted
S&P 500 Analysis: Index Falls to Year-to-Date Low
As the S&P 500 chart (US SPX 500 mini on FXOpen) shows, the index dropped below the 6,570 level yesterday for the first time in 2026. As a result, the equity market may be on track to