Foreign Exchange Market Update

July 21, 2026

Eurozone

Euro traded at 1.1405 against USD at 9:00 AM PST

Germany's economic confidence strengthened more in July to the highest level in five months. The investor sentiment index improved from 10.5 in June to 26.3 in July. The score hit the highest since February and remained well above the expected score of 18.0. The export-oriented sectors and domestic demand recorded stable growth.

The assessment of the current economic situation also strengthened, with the corresponding index rising from -81.0 in June to -77.6 in July. The outlook for the Eurozone improved, and the expectations index climbed from 9.5 in June to 23.4. 07/21/2026 - 06:16:00 (RTTNews)

Spain's foreign trade deficit increased in May from a year ago as exports fell amid a surge in imports. The trade deficit dropped from EUR 2.5 billion in May of last year to EUR 8.2 billion in May of this year. In April, the shortfall was EUR 5.1 billion.

Exports dropped 0.9% year-over-year in May, reversing a 5.8% rise in the prior month. At the same time, the annual growth in imports quickened from 8.7% to 14.4%.

The country exported 82.0% more energy products, while the outflows of chemical products dropped 24.7% from a year earlier. The growth in imports of energy products also remained high at 79.4%. 07/21/2026 - 07:41:00 (RTTNews)

Hong Kong Inflation Remains Stable at 2.0%

Hong Kong's consumer price inflation held steady in June after accelerating to a 13-month high in May. The consumer price index (CPI) climbed 2.0% year-over-year in June, the same as in May, which was the highest inflation rate since April 2025.

Netting out the effects of all governments' one-off relief measures, the underlying inflation rate also stayed unchanged at 1.9%. The accelerated price growth in fuel-related items was partly offset by more modest price pressures in other components.

Inflation based on transportation rose from 5.1% to 5.3%, and utility charges also grew at a faster pace of 9.2% versus 6.6% in June. At the same time, food inflation slowed to 0.3% from 0.7%, and clothing and footwear prices logged a slower increase of 0.7% versus 1.0% in May.

On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the 3-month period ending in June was 0.1%. 07/21/2026 - 07:17:00 (RTTNews)

Taiwan Export Order Growth Quickens to 59.4% in June

Taiwan's export order growth rebounded markedly at the end of the second quarter. Export orders surged 59.4% year-over-year in June, much faster than the 47.2% increase in May. In April, orders were 48.1% higher.

Orders for information and communication products grew 81.9% from last year. Demand for electronic products advanced by 79.9%, and those for mineral products rose 30.5%. Meanwhile, a decline was seen in the orders for optical, photographic, and cinematographic apparatus, which dropped 3.3%. Monthly, export orders increased 6.5% in June. 07/21/2026 - 04:26:00 (RTTNews)