All eyes are on whether the UK employment figures will give the pound a boost

All eyes are on whether the UK employment figures will give the pound a boost

19.07.2022

In yesterday’s U.S. currency trading, while the U.S. dollar faced resistance on the upside, the Canadian dollar surged, with the CAD/JPY pair rising by approximately 90 pips from 106.107 to 107.014.The pair is currently trading around 106.522, less than 100 pips below the year-to-date high of 107.198 set on June 9. It will be interesting to see if further gains during European trading hours will lead to a new high.

Among European currencies, the pound emerged as the strongest currency from European to U.S. trading hours, with GBP/USD rising by approximately 170 pips from 1.186 to 1.203.In today’s UK employment report, we will be watching the job market to see if the unemployment rate improves from the previous reading of 4.0%. If the results exceed market expectations, there is potential for further gains, so we will be closely monitoring whether GBP/USD breaks above the recent high of 1.205.

Today, at 3:00 PM Asia time, the UK employment report and Swiss trade balance will be released; during European trading hours, Turkish home sales will be released at 4:00 PM, followed by the final European Consumer Price Index at 6:00 PM;during U.S. trading hours at 9:30 PM, U.S. housing starts; at 12:00 AM, remarks by Bank of England Governor Bailey; at 3:35 AM, remarks by U.S. Federal Reserve Vice Chair Brainard; and around 5:00 AM, Netflix’s second-quarter earnings report. We will be watching to see if the UK employment data provides a boost to the pound.

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?