Market participants are likely to keep a close eye on price movements driven by preliminary PMI data from Europe and the U.S.

Market participants are likely to keep a close eye on price movements driven by preliminary PMI data from Europe and the U.S.

23.06.2022

In the U.S. currency market the previous day, the Dollar Index briefly fell to 103, and the dollar weakened against the euro. The U.S. MBA mortgage applications released yesterday rose 4.2% from the previous week, reflecting a rush of mortgage applications ahead of the interest rate hike. The euro rose against the dollar by about 130 pips, from 1.046 to 1.060. On the 4-hour chart, prices are forming higher highs.

Among European currencies, the pound, which had been trading lower, rose slightly against the U.S. dollar, with the GBP/USD pair climbing from 1.216 to 1.231. However, on the 4-hour chart, the pair continues to face resistance at the 75-day moving average, and since the downside has not yet been fully broken, we should exercise caution in assessing whether this upward trend will continue.

Today, at 4:15 PM, France’s Manufacturing/Services PMI (flash estimate); at 4:30 PM, Germany’s Manufacturing/Services PMI (flash estimate); at 5:00 PM, the Eurozone’s Manufacturing/Services PMI (flash estimate);at 5:30 PM UK Manufacturing/Services PMI (flash estimate), at 8:00 PM Turkey TCMB policy rate announcement, at 9:30 PM US Initial Jobless Claims, US Q1 Current Account Balance, at 10:45 PM US Manufacturing/Services PMI (flash estimate),23:00: U.S. Fed Chair Powell’s Congressional Testimony, 23:30: Remarks by German Bundesbank President Nagel, and 24:00: U.S. Weekly Crude Oil Inventories. Be on the lookout for price fluctuations driven by the European and U.S. PMI (flash estimates).

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?