Keep an eye on price movements at the start of the second half of the month

Keep an eye on price movements at the start of the second half of the month

19.07.2021

Last weekend, stock markets in both Europe and the U.S. declined. The UK’s FTSE, where daily COVID-19 cases have exceeded 50,000, closed at 7,008, down 0.06% from the previous day. Although the number of cases in the UK is on the rise again, the lockdown is expected to be lifted as scheduled today.WTI crude oil continued to decline, trading around $70 per barrel. OPEC+ agreed to scale back production cuts starting in August, and prices fell on expectations of stable supply.

The foreign exchange market opened without any significant gaps, and trading has been generally range-bound during today’s Asian session. In particular, the EUR/USD pair is trading with very little direction around the 1.180 level, and on the hourly chart, the upside appears to be slightly capped. However, since the pair remains above the 200-day moving average on the weekly chart, this is a phase where we need to carefully assess whether a downtrend is likely to develop.

Today’s economic calendar includes the Turkish Consumer Confidence Index at 4:00 PM, remarks by UK MPC member Haskell at 7:00 PM, and the US NAHB Housing Market Index at 11:00 PM; aside from these, no major speeches or economic releases are scheduled.With the ECB interest rate decision on Thursday, the 22nd, and the release of European manufacturing and non-manufacturing PMI flash estimates coming up this week, we will be watching to see if European currencies show any clear direction.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 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

5. 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?

6. 13.04.2026

   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

7. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 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?

9. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 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