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

Investors should keep a close eye on price movements as U.S. trading hours approach 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’s August Consumer Sentiment Index, 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 of this year. On the 4-hour chart, it will be worth watching whether the EUR/USD pair will rise again, with the 200-period SMA acting as support.

Among European currencies, the pound lost momentum against the U.S. dollar, with the GBP/USD pair falling 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 closely monitoring whether the pound will continue to lose momentum and head toward a new low for the year.

Today, Swiss producer import prices will be released at 15:30 Asia time, followed by Canadian manufacturing shipments at 21:30 U.S. time,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 scheduled for Wednesday, the 17th, and the U.S. Philadelphia Fed Business Outlook Index on Thursday, the 18th, we intend to carefully monitor how the markets will move during the summer vacation period.