Market Overview - February 20, 2026
Today's macroeconomic calendar is packed with significant data releases from both Europe and the United States, following a relatively calm start to the week. Key indicators include Purchasing Managers' Index (PMI) readings from major European economies, as well as crucial inflation and GDP figures from the US.
Economic Calendar Highlights
07:30 AM GMT: Germany PMI (services and manufacturing)
08:00 AM GMT: Eurozone PMI (services and manufacturing)
08:30 AM GMT: UK PMI (services and manufacturing)
12:30 PM GMT: Canada retail sales, PPI and PCE
12:30 PM GMT: US PCE inflation
12:30 PM GMT: US GDP data
1:45 PM GMT: US PMI (services and manufacturing)
2:00 PM GMT: US consumer sentiment and inflation expectations (University of Michigan)
2:00 PM GMT: US new home sales
2:00 PM GMT: US Supreme Court decision on tariffs (Tentative)
Market Trends
The EUR/USD currency pair is experiencing a decline, with the 200-day Exponential Moving Average (EMA200) acting as a significant support level around 1.165. This level has been tested multiple times, indicating its importance in the current market dynamics.
Recent Developments
As of this morning, European flash PMIs have come in stronger than expected, leading to a slight uptick in the EUR/USD exchange rate. This positive news may signal a potential acceleration in business activity across the region.
Central Bank Insights
Market participants will also be paying attention to speeches from key Federal Reserve officials, including Fed’s Bostic and Fed’s Logan, scheduled for later in the day. Their insights could provide further direction for market sentiment and expectations regarding future monetary policy.
Overall, the combination of PMI data, inflation figures, and central bank commentary will be crucial in shaping market movements today.