Will the euro regain strength following the ECB announcement? Keep an eye on price movements around the time of the release.

Will the euro regain strength following the ECB announcement? Keep an eye on price movements around the time of the release.

24.07.2025

In yesterday’s U.S. trading session, the U.S. dollar continued to decline against the euro. The EUR/USD pair rose from 1.1711 to 1.1775. It surged from the -3σ to the +3σ levels on the hourly Bollinger Bands. On the 4-hour chart, the upward trend continues, supported by the 20-day moving average (MA), and on the daily chart, the pair has risen for four consecutive days. The candlestick, which had briefly dipped below the 20-day MA, has recovered.We will be watching for signs of whether the US dollar will continue to weaken during today’s US trading session.

European currencies saw the euro fluctuate against the yen after the preliminary July Eurozone Consumer Confidence Index, released yesterday, improved to -14.7 from -15.3 the previous month.The EUR/JPY pair traded between 171.377 and 172.736. Price action lacked direction near the 200-period simple moving average (SMA) on the hourly chart. Meanwhile, on the daily chart, the trend along the +2σ line of the Bollinger Bands is beginning to break down.

Today’s schedule includes remarks by RBA Governor Block at 12:05, the German GfK Consumer Confidence Survey at 15:00, German Manufacturing/Non-Manufacturing PMIs at 16:30, Eurozone Manufacturing/Services PMIs at 17:00, UK Manufacturing/Services PMIs at 17:30, and at 21:15, theECB interest rate decision and statement, at 21:30 US Initial Jobless Claims and Canadian Retail Sales, at 21:45 a press conference by ECB President Lagarde, at 22:45 US PMI Purchasing Managers' Index, at 23:00 US New Home Sales, and at 8:01 the next day the UK GfK Consumer Confidence Survey.We will need to pay close attention to price movements around the release of these indicators to see if the euro regains strength following today’s ECB announcement.

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