Keep an eye on the euro’s price movements at the start of the month as it continues to rise

Keep an eye on the euro’s price movements at the start of the month as it continues to rise

01.09.2022

The U.S. dollar strengthened yesterday after Cleveland Fed President Mester stated that "we need to raise the policy rate to a level above 4% and maintain it there." The AUD/USD pair fell by about 60 pips from 0.6903 to 0.6840.The pair continued to decline during today’s Asian session, touching 0.6804. However, as it has reached a level that acts as a support line on the 4-hour chart, traders should watch for a corrective rebound.

Among European currencies, the euro held its ground against the strengthening U.S. dollar, with the EUR/USD pair rising by just over 100 pips from 0.9971 to 1.0079. The euro has also continued to perform strongly against the pound, another European currency, with the EUR/GBP pair posting a strong bullish candle for the fourth consecutive day. While it is currently trading at 0.8649, the 4-hour RSI stands at 77, so traders should be wary of a corrective pullback.

Today’s schedule includes UK Nationwide House Price Index and German Retail Sales at 3:00 PM, Swiss Retail Sales at 3:30 PM, Swiss Manufacturing PMI at 4:30 PM, UK Manufacturing PMI at 5:30 PM, US Challenger Job Cuts at 8:30 PM, and Canadian Building Permits at 9:30 PM,U.S. Initial Jobless Claims, U.S. Q2 Nonfarm Productivity, U.S. Manufacturing PMI at 10:45 PM, U.S. ISM Manufacturing Index at 11:00 PM, U.S. Weekly Natural Gas Inventories at 11:30 PM, and remarks by U.S. Atlanta Fed President Bostic at 1:30 AM. Keep an eye on the euro’s price movements at the start of the month as it continues to rise.

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?