Investors should keep a close eye on price movements as U.S. markets close on the final day of the Obon holiday

Investors should keep a close eye on price movements as U.S. markets close on the final day of the Obon holiday

15.08.2022

Last weekend, the U.S. dollar strengthened against the euro, with the EUR/USD pair falling by just under 90 pips from 1.0327 to 1.0238.The University of Michigan Consumer Sentiment Index for August, released last weekend, came in at 55.1, exceeding the market forecast of 52.5. This marks the second consecutive monthly increase since it hit a record low in June. On the 4-hour chart, we will be watching to see if the EUR/USD pair will rebound with the 200-day moving average (SMA) acting as support.

Among European currencies, the pound lost momentum against the U.S. dollar, with GBP/USD falling by approximately 110 pips from 1.2215 to 1.2100. GBP/USD is currently trading in a range between the 20-day and 75-day moving averages on the daily chart, and as price volatility has been narrowing, we will be watching closely to see if the pound continues to lose momentum and breaks below this year’s low once again.

Today, the schedule includes Swiss producer import prices at 15:30 Asia time; Canadian manufacturing shipments, Canadian wholesale sales, and the U.S. New York Fed Manufacturing Index at 21:30 U.S. time; Canadian existing home sales at 22:00; the U.S. NAHB Housing Market Index at 23:00; and U.S. securities investment data at 29:00.Ahead of the release of the U.S. FOMC minutes on Wednesday, the 17th, and the U.S. Philadelphia Fed Business Outlook Index on Thursday, the 18th, we intend to carefully monitor how the market moves during the summer holiday period.

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?