Will the euro, which is gaining momentum, continue to rise during U.S. trading hours?

Will the euro, which is gaining momentum, continue to rise during U.S. trading hours?

18.08.2022

In the previous day’s U.S. currency trading, the U.S. dollar, which had weakened following the release of the FOMC minutes, remained strong against the pound throughout the day, causing the GBP/USD pair to fall by approximately 110 pips from 1.2142 to 1.2028. Since the GBP/USD pair has formed a double top during its downtrend on the 4-hour chart, we will be watching closely to see if prices break below the recent low of 1.2003.

Despite the fact that the eurozone’s April–June GDP figures released yesterday fell short of previous readings on both a quarter-on-quarter and year-on-year basis, the euro surged against the yen. The EUR/JPY pair rose by 160 pips, climbing from 136.252 to 137.873.Since the EUR/JPY pair has formed a double bottom on the daily chart, it will be worth watching to see if it can firmly break above the 20-day moving average with a real body and extend its gains to the recent high of 138.396.

Today, at 3:00 PM, Switzerland’s trade balance; at 6:00 PM, the Eurozone’s consumer price index; at 8:00 PM, the Turkish Central Bank’s policy rate and statement; at 9:30 PM, Canada’s industrial product prices and housing prices, U.S. initial jobless claims, and the U.S. Philadelphia Fed Business Outlook Index;at 11:00 PM, U.S. Existing Home Sales and the U.S. Leading Economic Index; at 11:30 PM, U.S. Weekly Natural Gas Inventories; at 2:20 AM, remarks by George, President of the Kansas City Fed; and at 2:45 AM, remarks by Kashkari, President of the Minneapolis Fed. We will be watching to see if the euro, which has been gaining momentum, will continue to rise into U.S. 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?