Market Brief: July 23, 2026

Today's market activity is centered around key economic events in Europe and the United States, with significant attention on the European Central Bank's (ECB) upcoming announcements. Meanwhile, currency movements and corporate earnings are also in the spotlight.

What's on the calendar

Today, the European Central Bank is set to announce its Main Refinancing Rate, which is expected to remain steady at 2.40%. This will be followed by a Monetary Policy Statement and a press conference, both of which are likely to provide insights into the ECB's future policy direction. Across the Atlantic, the United States will release its weekly unemployment claims, with forecasts predicting a slight increase to 211,000 from the previous 208,000.

What's moving

In the currency markets, the Euro is gaining ground against the US Dollar, trading up by 0.15% at around 1.1430. This movement comes as the Euro outperforms its peers ahead of the ECB's policy decision. Meanwhile, the British Pound faces downside risks against the US Dollar, with expectations of consolidation between 1.3350 and 1.3400. The Canadian Dollar is also gaining traction, supported by rising oil prices amid escalating tensions between the US and Iran.

On the corporate front, CVS Group has reported a 5.9% revenue growth for fiscal 2026, while Volution Group has raised its earnings guidance despite warnings from peers. Additionally, Jupiter has increased its synergy target following a 67% jump in first-half profits.

Bottom line

Today's focus is on the ECB's announcements, which could influence the Euro's trajectory, while US unemployment claims will provide further economic insights. Currency markets are reacting to geopolitical tensions and central bank expectations, with the Euro and Canadian Dollar showing notable movements.

This brief is a snapshot of public commentary at the time of writing — not financial advice.