All eyes are on whether the weakening euro will recover during U.S. trading hours

All eyes are on whether the weakening euro will recover during U.S. trading hours

30.06.2022

Yesterday, the U.S. dollar surged following hawkish comments from Federal Reserve Chair Powell, causing the GBP/USD pair to drop from 1.221 to 1.210. On the 4-hour chart, GBP/USD has already fallen by half of its recent gains, and since it could resume its downward trend after a corrective rebound, we should keep an eye on the 1.202 level should the pair continue to decline.

European currencies weakened toward the end of the U.S. trading session, partly due to comments made by the ECB president at the ECB Forum, with the euro falling against the dollar from 1.0534 to 1.0432. Yesterday, ECB President Lagarde noted that the structure of the eurozone differs from that of other major economies and indicated that “it is difficult to determine the pace of rate hikes in advance,” while also hinting at the possibility of a significant rate hike at the September meeting.

Today, during Asian trading hours at 15:00, the UK Q1 GDP (final reading), UK Q1 current account balance, and German retail sales will be released; during European trading hours at 15:45, the French Producer Price Index will be released; at 16:00, the Swiss KOF Leading Index and trade balance; at 16:55, the German unemployment rate; and at 18:00, the Eurozoneunemployment rate, at 21:30 during U.S. trading hours: Canada’s GDP, U.S. personal income, and U.S. core PCE deflator; at 22:45: the U.S. Chicago PMI; and at 23:30: U.S. weekly natural gas inventories. We will be watching closely to see if the euro, which has been weakening, will recover during U.S. trading hours.

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?