Market participants are keeping a close eye on the direction of the euro, which is trading lower at the start of the week

Market participants are keeping a close eye on the direction of the euro, which is trading lower at the start of the week

11.07.2022

Last weekend, the U.S. dollar strengthened following the release of positive U.S. employment data, making it the strongest currency.The AUD/USD pair fell from 0.6861 to 0.6791. The decline continues as the pair is capped by the 75-period moving average on the 4-hour chart. The fact that the U.S. unemployment rate remained at 3.6% for the third consecutive month, indicating that the job market has not slowed, was also a factor in the dollar’s strength. The yield on the 10-year U.S. Treasury note is trading in the 3.08% range.

European currencies are seeing the pound, which had been strengthening since the announcement of British Prime Minister Johnson’s resignation, now trading in a tight range against the euro, with the EUR/GBP pair fluctuating between 0.8441 and 0.8475. On the daily chart, the 200-day SMA is acting as a support level at the lower end of the range, so it will be worth watching whether a rebound occurs and the euro regains its footing.

Today, the schedule includes remarks by Bank of England Governor Bailey at 23:15 U.S. time, remarks by German Bundesbank President Nagel at 25:30, a U.S. 3-year Treasury auction at 26:00, and remarks by New York Fed President Williams at 27:00.This week, in addition to policy rate announcements from New Zealand and Canada, the U.S. CPI report is due, so we should be on guard for sharp price movements triggered by these economic indicators. First, we will closely monitor the direction of the euro, which has been trading weakly at the start of the week.

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?