Investors should keep an eye on the PMI releases from European to U.S. trading hours

Investors should keep an eye on the PMI releases from European to U.S. trading hours

22.07.2022

In the U.S. currency market yesterday, the corrective decline paused, and the GBP/USD pair traded in a range between 1.1889 and 1.2003. U.S. initial jobless claims released yesterday came in at 251,000, exceeding the market forecast of 240,000 and marking the third consecutive week of deterioration; however, the market remained firm against the euro.During today’s Asian session, the pair is attempting to move lower around the 1.1959 level. Since the 75-period and 20-period moving averages on the 4-hour chart appear poised to form a death cross, caution is warranted regarding a potential decline.

European currencies saw the euro strengthen temporarily yesterday following a significant rate hike—the first in 22 years—which raised the policy rate to 0.50%. However, the currency fell back after ECB President Lagarde’s press conference, with the EUR/USD pair fluctuating between 1.027 and 1.015.The EUR/USD pair is finding support at the 20-period moving average (MA) on the 4-hour chart, but since the 20-period MA is capping gains on the daily chart, we should exercise caution in determining the market’s direction.

Today, UK retail sales are scheduled for 3:00 PM during Asian trading hours; French manufacturing and services PMIs are set for 4:15 PM during European trading hours; German manufacturing and services PMIs are scheduled for 4:30 PM; Eurozone manufacturing and services PMIs are set for 5:00 PM; UK manufacturing and services PMIs are scheduled for 5:30 PM; Canadian retail sales are set for 9:30 PM during US trading hours;and at 10:45 PM US time, Canadian retail sales. We will monitor price movements while paying close attention to the PMI releases from European to US 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?