All eyes are on how European markets will move following the long holiday weekend

All eyes are on how European markets will move following the long holiday weekend

19.04.2022

In the previous day’s U.S. currency trading, the market lacked direction due to the European market being closed, and the EUR/USD pair remained within a range of 1.082 to 1.077, with volatility limited to about 50 pips.However, as Ukraine refused to surrender the southeastern city of Mariupol and maintained its stance of "fighting to the end," the foreign exchange market viewed the euro as a geopolitical risk. Consequently, the U.S. dollar has been strengthening slightly against the euro.

Among European currencies, the EUR/GBP pair, which had been trending lower, has staged a temporary rebound, recovering to 0.829 after hitting a low of 0.824. Since the EUR/GBP is currently being capped by the 20-period moving average on the 4-hour chart, we will closely monitor whether this recent rebound continues.

There are no major economic indicators scheduled for release today. However, once U.S. trading hours begin, the following data points are scheduled: at 21:15, Canadian international securities turnover, U.S. housing starts, and U.S. building permits; at 22:00, Canadian existing home sales; at 25:05, remarks by Charles Evans, President of the Chicago Fed; and at 25:30, remarks by Jordan, Governor of the Swiss National Bank.We will be watching for price movements starting in European trading hours to see if Europe shows active trading following the long weekend.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   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

8. 13.04.2026

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

9. 10.04.2026

   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?

10. 09.04.2026

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