New York Session Forex Brief: Dollar Firms Into the US Open

Session brief Bullish bias Sep 22, 2026, 17:47 UTC

Nathan BrooksUS Markets & Federal Reserve Analyst · ForexR analyst

The US dollar shows strength during the New York session, pressuring EUR/USD to 1.14303 and lifting USD/CAD to 1.4079, while WTI crude oil falls to 90.777.

New York Session Market Performance Overview

During the New York session, the Nasdaq 100 leads the day's gains with a 0.55% rise, closely followed by USD/CAD, which is up 0.33% to trade at 1.4079. Meanwhile, commodity and crypto markets are lagging, with WTI Crude Oil and Ethereum both down 0.88%, and Bitcoin lower by 0.53% to 86471.8. The US dollar demonstrates broad strength, keeping major pairs like GBP/USD and EUR/USD under pressure as they slide 0.32% and 0.29% respectively. These shifts are captured in our live currency strength meter as trading progresses.

Major Currency Setups and Technical Scenarios

With major pairs exhibiting mixed daily trends and distinct four-hour directions, mapping specific levels is crucial for risk management. Traders tracking these levels can utilize our pivot point calculator to identify near-term inflection zones.

For EUR/USD, the price is currently trading at 1.14303, which is below the daily S1 at 1.14512 and the pivot at 1.14732. Reclaiming S1 at 1.14512 could trigger a broader recovery toward the pivot at 1.14732. Conversely, a sustained break below the day low at 1.14287 would invalidate any potential near-term recovery and could open the way to further downside.

On GBP/USD, which is trading down 0.32% at 1.33229, a push back above S1 at 1.33533 could allow price to target the pivot at 1.33763. However, if the pair remains capped below S1 and breaks the day low at 1.33207, it may invalidate that recovery scenario and expose deeper support territory.

For USD/CAD, trading at 1.4079, the price has broken above the pivot at 1.40164 and R1 at 1.40547. Holding above R1 at 1.40547 could open the way toward the day high at 1.40801. A drop back below the pivot at 1.40164 would invalidate the positive intraday outlook and shift attention back to S1 at 1.39947.

Central Bank Insights and Fixed Income Context

Reports from FXEmpire indicate that the greenback is challenging recent peak levels, which may align with warnings from Federal Reserve official Collins regarding persistent inflation risks. According to FX Street, the British pound has fallen against the dollar despite market optimism over the potential reopening of the Strait of Hormuz. The same publication notes that the upward trajectory in USD/JPY has paused beneath major moving averages, with the pair at 157.528.

Additionally, Scotiabank analysts point out that persistent greenback strength is keeping the Canadian currency on the defensive as USD/CAD trades at 1.4079. Meanwhile, coverage on precious metals by FXEmpire suggests that gold's trading range between $4,300 and $4,500 is keeping buyers waiting, with spot gold currently holding at 4336.96. These currency trends occur alongside movements in fixed income markets. On September 21, 2026, the US 2-year Treasury yield closed at 4.76% and the 10-year yield finished at 4.96%.

Scheduled Economic Calendar Events

The upcoming sessions present several key releases that market participants should monitor via our economic calendar guide. Today, the ECB's Nagel is scheduled to speak at 19:30 UTC. Later today, at 23:00 UTC, Australia will release its S&P Global PMIs, including the Manufacturing PMI (previous 52), the Services PMI (previous 53.2), and the Composite PMI (previous 52.7).

Moving into tomorrow, ECB's Vujčić speaks at 07:00 UTC, followed closely at 07:15 UTC by France's HCOB PMI data, where the French Manufacturing PMI is estimated at 50.9 (previous 51.1) and the Services PMI is projected at 48.5 (previous 48). Refer to our all ForexR market analysis section for continued updates on these events.

Bottom Line on the US Dollar

The US dollar exhibits consistent positive momentum across the major pairs in the New York session, though daily trends remain broadly mixed. Focus rests on whether the currency can maintain these levels as central bank speeches and PMI data approach.