Market participants are likely to closely monitor the direction of European currencies

Market participants are likely to closely monitor the direction of European currencies

29.11.2022

In the previous session, the U.S. dollar traded in a narrow range against the euro, with the EUR/USD pair fluctuating between 1.0496 and 1.0330.Although the EUR/USD pair slightly surpassed this month’s high following yesterday’s rally, it pulled back at the daily 200-day SMA, making it difficult for prices to rise smoothly. However, as the pair is also forming a higher low, we need to carefully assess whether comments from key figures will provide momentum to the price direction.

In the European currency market, the euro strengthened against the pound, another European currency, with the EUR/GBP pair rising by approximately 90 pips from 0.8579 to 0.8673. On the daily chart, the EUR/GBP pair has shown solid support at lower levels and has rebounded firmly off the 200-day EMA. Since there is still room for the pair to rise toward this month’s high of 0.8828, we will be watching closely to see if the euro continues to strengthen during European trading hours.

Today’s schedule includes Turkey’s trade balance at 16:00 CET, Switzerland’s Q3 GDP at 17:00 CET, UK mortgage approvals and consumer credit balances at 18:30 CET, and remarks by a member of the Bank of England’s Monetary Policy Committee (MPC) at 21:35 CET, as well as Germany’s consumer price index (flash estimate) at 22:00 EST,at 10:30 PM (US time), Canada’s GDP, at 11:00 PM the US S&P/Case-Shiller Home Price Index and the US Home Price Index, and at midnight remarks by Bank of England Governor Bailey and Swiss National Bank (SNB) Vice Chairman Schlegel. We will carefully assess the direction of European currencies.

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?