Should we keep an eye on whether European currencies continue to rise?

Should we keep an eye on whether European currencies continue to rise?

29.07.2021

Yesterday, U.S. stock markets saw mixed trading, with stocks and interest rates remaining flat while oil prices rose. The VIX (fear index) fell to 18.3. BTC/USD has recovered to the $40,000 range. Japanese stocks rebounded, trading in the 27,770 yen range. Chinese markets also rebounded, with the Hong Kong Hang Seng Index trading around 26,200, up 3.04% from the previous day.

In the foreign exchange market, the pound has been the standout performer. Among the yen crosses, GBP/JPY has shown the strongest upward momentum, rising to 152.98 and setting a new high for the week. GBP/USD has also risen, climbing approximately 96 pips from 1.384 to 1.393. From a technical perspective, major resistance levels on the daily chart and longer time frames have already been broken.

Today’s schedule includes the French Producer Price Index at 3:45 PM, Turkish Economic Sentiment at 4:00 PM, German Unemployment Rate at 4:55 PM, UK Mortgage Approvals at 5:30 PM, German Consumer Price Index at 9:00 PM, U.S. Initial Jobless Claims and U.S. Second-Quarter GDP (flash estimate) at 9:30 PM,U.S. personal consumption, U.S. pending home sales at 11:00 PM, and a U.S. 7-year Treasury auction at 2:00 AM. Since trends in U.S. personal consumption provide insight into the strength of the U.S. economy, we will pay close attention to today’s economic releases and closely monitor price movements.

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