All eyes are on price movements at the start of this event week, which features the announcement of the policy interest rate

All eyes are on price movements at the start of this event week, which features the announcement of the policy interest rate

01.08.2022

Last weekend, the U.S. dollar remained flat, with the Dollar Index hovering around 105.7, while the EUR/USD pair traded in a narrow range between 1.0249 and 1.0146. Although the EUR/USD pair has been moving within this range, it has been forming higher lows on the 4-hour chart. Additionally, a golden cross has formed between the 75-period and 20-period moving averages on the 4-hour chart, so it will be worth watching to see if the euro gradually regains momentum against the U.S. dollar.

In the European currency markets, the pound fell sharply against the U.S. dollar but then recovered, resulting in a market where buying and selling pressures were evenly balanced. The GBP/USD pair fell from 1.2245 to 1.2064 before rebounding. With the U.S. July ISM Manufacturing Index set to be released today, we will be watching for signs of strength in the manufacturing sector while keeping a close eye on the relative strength of the dollar.

Today, German retail sales are scheduled for 3:00 PM Asia time, followed by the Turkish Manufacturing PMI at 4:00 PM Europe time, the French Manufacturing PMI at 4:50 PM, the German Manufacturing PMI at 4:55 PM, the Eurozone Manufacturing PMI at 5:00 PM, the UK Manufacturing PMI at 5:30 PM, and the Eurozoneunemployment rate, U.S. Manufacturing PMI at 22:45 U.S. time, the U.S. ISM Manufacturing Index at 23:00, and U.S. construction spending. In addition, this week is packed with events, including tomorrow’s Australian interest rate announcement, Wednesday’s U.S. ADP employment report, and Thursday’s U.K. interest rate decision. I’d like to start by closely monitoring price movements at the beginning 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?