Keep an eye on the direction of the euro, which is showing signs of weakness

Keep an eye on the direction of the euro, which is showing signs of weakness

16.11.2021

Yesterday, the three major U.S. stock indices all fell, resulting in a market environment characterized by falling stock prices, rising interest rates, and higher oil prices. The U.S. November NY Fed Manufacturing Index, released yesterday, came in at 30.9—exceeding the market forecast of 22.0 and marking the highest level since 2001—but failed to provide reassurance for stock prices.The Russell 2000 also fell about 0.45% from the previous day, closing at 2,400.

In the foreign exchange market, the euro is facing significant resistance on the upside, and as of yesterday, it had become the weakest currency. The euro also weakened against the pound, another European currency, with the EUR/GBP pair falling from 0.853 to 0.847. We need to carefully assess whether the EUR/GBP pair will extend its decline to the next immediate support level of 0.841.

Today’s schedule includes the UK unemployment rate at 4:00 PM, the French Consumer Price Index at 4:45 PM, the Turkish Housing Price Index at 8:30 PM, Canadian housing starts at 10:15 PM, U.S. retail sales and the U.S. import price index at 10:30 PM, U.S. industrial production and the U.S. capacity utilization rate at 11:15 PM, and U.S. business inventories at 12:00 AM,US NAHB Housing Market Index, 1:10 AM: Remarks by ECB President Lagarde, 2:00 AM: Remarks by Bostic (President of the Atlanta Fed), Remarks by Barkin (President of the Richmond Fed), Remarks by George (President of the Kansas City Fed), and Remarks by Daly (President of the San Francisco Fed) are scheduled.We will be closely watching to see which direction the currently weak euro takes today.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 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?

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed