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U.S. Dollar Gains Ground After PPI Report: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

By:
Vladimir Zernov
Published: Mar 13, 2025, 17:23 GMT+00:00

Key Points:

  • EUR/USD pulled back towards the 1.0850 level despite the better-than-expected Euro Area Industrial Production report.
  • USD/CAD moved towards the 1.4450 level as oil markets pulled back.
  • USD/JPY declined as traders focused on the pullback in Treasury yields.
EUR/USD, GBP/USD, USD/CAD, USD/JPY
In this article:

U.S. Dollar Continues To Rebound From Recent Lows

DXY
DXY 130325 4h Chart

U.S. Dollar Index gains ground as traders react to Producer Prices report for February. PPI remained unchanged on a month-over-month basis, compared to analyst forecast of +0.3%. Core PPI declined by -0.1%, while analysts expected that it would grow by +0.3%.

In case U.S. Dollar Index manages to settle above the 104.00 level, it will move towards the resistance at 104.30 – 104.50.

EUR/USD Settled Below The 1.0900 Level

EUR/USD
EUR/USD 130325 4h Chart

EUR/USD pulled back despite the better-than-expected Euro Area Industrial Production report. The report showed that Industrial Production increased by 0.8% month-over-month in January, compared to analyst forecast of +0.6%.

If EUR/USD settles below the 1.0850 level, it will head towards the support level at 1.0760 – 1.0775.

GBP/USD Tests Resistance At 1.2935 – 1.2950

GBP/USD
GBP/USD 130325 4h Chart

GBP/USD is losing some ground as traders react to U.S. economic data. From the technical point of view, GBP/USD continues its attempts to settle above the resistance at 1.2935 – 1.2950.

If GBP/USD manages to settle above the 1.2950 level, it will head towards the resistance level at 1.3050 – 1.3070.

USD/CAD Gains Ground Amid Pullback In The Oil Markets

USD/CAD
USD/CAD 130325 4h Chart

USD/CAD is moving higher as traders focus on the pullback in the oil markets. Other commodity-related currencies have also found themselves under pressure in today’s trading session.

A move above the 1.4450 level will push USD/CAD towards the nearest resistance, which is located in the 1.4485 – 1.4500 range.

USD/JPY Retreats As Treasury Yields Move Lower

USD/JPY
USD/JPY 130325 4h Chart

USD/JPY is under pressure as Treasury yields pull back. The yield of 2-year Treasuries declined towards the 3.95% level, while the yield of 10-year Treasuries settled below 4.30%.

In case USD/JPY declines below the 147.50 level, it will move towards the support level at 146.50 – 147.00.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.

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