Market participants are watching the direction of the U.S. dollar, which fell on the back of weaker U.S. durable goods orders

Market participants are watching the direction of the U.S. dollar, which fell on the back of weaker U.S. durable goods orders

26.07.2024

In the U.S. currency market yesterday, the U.S. dollar fell against the euro after the U.S. June durable goods orders, released yesterday, were sharply revised downward from the previous month’s 0.1% to -6.6%.The EUR/USD pair rose from 1.0827 to 1.0869. It climbed along the 20-period moving average (MA) on the hourly chart and recovered to just below the 200-period exponential moving average (EMA). On the 4-hour chart, the 200-period EMA is acting as a support level, while the daily chart shows a rebound from the 20-period MA.

Among European currencies, the pound weakened against the U.S. dollar. The GBP/USD pair fell from 1.2913 to 1.2845. It declined after encountering resistance at the 20-period moving average on the hourly chart.On the 4-hour chart, the price has touched the -3σ Bollinger Band, and on the daily chart, the price has broken below the 20-day moving average support line with a real body candle. We will need to monitor price movements during European trading hours to see if the pound continues to weaken against the US dollar.

Today’s economic indicators include the Japan Tokyo Consumer Price Index at 8:30, Australian Retail Sales at 10:30, Singapore Industrial Production at 14:00, the Japan Economic Sentiment Index at 14:00, the France Consumer Confidence Index at 15:45, the Russia Key Interest Rate at 19:30, and the Mexico Trade Balance at 21:00.21:30: U.S. Personal Income, U.S. PCE Deflator, U.S. Core PCE Deflator, and 23:00: U.S. University of Michigan Consumer Sentiment Index. We will closely monitor the direction of the U.S. dollar, which fell following the deterioration in U.S. durable goods orders.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   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

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   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?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed