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The key economic events scheduled for this week

Los eventos económicos clave programados para esta semana

The key economic events scheduled for this week: As we approach a pivotal week in the financial markets,
key economic events across major economies are set to shape trading strategies and market sentiments.

Content

Economic Events

Monday, April 22,

CNY PBoC Prime Lending Rate

Tuesday, April 23

USD Manufacturing PMI (April)

USD Services PMI (April)

Wednesday, April 24

USD US Crude Oil Inventory

Thursday, April 25

USD Gross Domestic Product (Quarterly) (Q1)

USD Unemployment Claims

Friday, April 26

JPY Bank of Japan Interest Rate Decision

USD Core Personal Consumption Expenditures Price Index (Yearly) (March)

Gold

Gold prices rose about 1.5% during last week’s trading after opening with an upward price gap
and amid ongoing geopolitical tensions between Israel and Iran and the military responses between the two,
leading to a continued rise in gold regardless of the rise in the dollar index.
Gold is trading above the support levels at 2358 and above an upward trend line,
making it expected to continue its ascent to reach levels of 2430.

Oil

West Texas Intermediate crude oil prices stabilized around $82 per barrel near the daily demand area,
having experienced a downturn after an increase in US inventories last week.
If the support at $80.30, coinciding with the demand area, is not broken,
it will likely rise again to $87.60 and then to resistance at $90.
However, if it breaks downward with a full-day candle close below, a retest of the $76 – $75 levels is expected.

Dow Jones Index

The Dow Jones Index fell about 1.95% during last week’s trading before rebounding
and nearly recovering all its losses by the end of Friday’s trading.
This week, markets await the manufacturing and services PMI data on Tuesday and GDP data on Thursday.
The index now trades above the support levels of 37765-37880.
If it breaks the downward trend line upward, we can expect the price to reach 38470-38600.

GBPUSD

The pair exited the sideways range on the daily frame after breaking the 1.2500 support
with increasing bearish momentum and forming a lower high.
If the pair closes below the 1.2375 level and forms a lower high than before,
it is likely to fall to 1.2187.
However, if it rises again above the 1.2500 support and confirms by breaking the pivot point at 1.2580,
it is expected to rise to 1.2895.

EURUSD

The Euro against the US dollar closed last week’s trade up about 0.2% after a substantial rise of 0.6%.
Markets are awaiting German manufacturing and services PMI data
next Tuesday and the exact data for the US side.
On Thursday, US GDP data will be released.
The pair has risen from 1.0600 and is expected to continue this ascent to 1.0700-1.0725.

USDJPY

The pair rose during last week’s trading, stabilizing above the resistance,
which turned into support at 151.95 with declining momentum.
Stability above the 154 level will catalyze the upward trend targeting Fibonacci extension levels 156 and 158.
However, if the support breaks and a full-day candle closes below it,
we can expect a retest of the support area around the 146 levels.

The key economic events scheduled for this week

Key Economic Events and Data

Acontecimientos y Datos Económicos Importantes

Key Economic Events and Data: Last week, the Dow Jones fell by about 0.7% before closing the week down by 0.2%,
Oil stabilized above $80 per barrel, successfully breaking through the 200-day average and reaching around 80.83 with positive momentum signals
and Gold prices fell by more than 1.0% after rising for three consecutive weeks.

Topics

Key Economic Events and Data

Key Economic Events and Data

Tuesday, March 19

Canadian Consumer Prices (YoY)

Wednesday, March 20

British Consumer Prices (YoY)

U.S. Federal Reserve’s Interest Rate Decision

Thursday, March 21

Swiss National Bank’s Interest Rate Decision

Bank of England’s Interest Rate Decision

U.S. Unemployment Claims

Gold

Last week, gold prices fell by more than 1.0% after rising for three consecutive weeks.
This decline followed strong Producer and Consumer Price Index data,
leading to a stronger U.S. dollar. Gold formed a price triangle near the support levels of 2144.
If the triangle breaks upwards, it could retest the 2194 levels.

Oil

Oil stabilized above $80 per barrel, successfully breaking through the 200-day average
and reaching around 80.83 with positive momentum signals.
The rise is expected to continue to 82.20. Holding above this could push prices to $85
. A retest of the $79 level is possible, but breaking below it would likely lead to support at $76.

U.S. Dow Jones Index

Last week, the Dow Jones fell by about 0.7% before closing the week down by 0.2%.
Positive data from the Consumer Price Index and the Producer Price Index
led to a drop in the index from the resistance levels of 39295-39225,
approaching the 200-day moving average and the lower boundary of the downward price channel.
Thus, any bullish price behaviour from these levels could push the index towards the mentioned resistance levels.

GBPUSD

The pound traded around 1.27 USD, supported by higher-than-expected U.S. inflation numbers.
This came after a rebound near the psychological resistance level of 1.29 but remained
above the sub-support level of 1.2710. If it holds above,
a return to the 1.2890 level and the next resistance level of 1.30 is likely.
However, breaking the sub-support level would likely lead to around 1.2535 – 1.2500 support area.

EURUSD

Last week, the EURUSD pair fell more than 0.5% after positive U.S. data
from the Consumer Price Index and the Producer Price Index bolstered the dollar.
It reached the support levels of 1.0885-1.0900 at the lower boundary of the upward price channel.
If it rises and closes above the support levels, the price could reach 1.0960.

USDJPY

The dollar traded near 149 yen, supported by higher-than-expected U.S. inflation numbers,
after rebounding close to the 146 support level and remaining upward.
If the current levels, representing a sub-support, are maintained, a rise to 151 yen is likely.
However, breaking below could enhance the probability of visiting the support level.

Key Economic Events and Data

The Weekly Economic News

The Weekly Economic News: The US labour market data was generally negative, with unemployment rising to 3.9% from 3.7%
and a decline in average hourly wages to 0.1% from 0.6%, contributing to a decline in the US dollar index and a clear strength in gold prices.

Topics

Economic Events

Tuesday, March 12

USD Consumer Price Index (CPI) YoY

Wednesday, March 13

GBP Gross Domestic Product (GDP) YoY

U.S. Crude Oil Inventories

Thursday, March 14

US unemployment claims rates

U.S. Producer Price Index (PPI) YoY

Gold

The US labour market data was generally negative, with unemployment rising to 3.9% from 3.7%
and a decline in average hourly wages to 0.1% from 0.6%,
contributing to a decline in the US dollar index and a clear strength in gold prices.

As prices remain above the support level around $2150,
we are likely to rise again to target $2190 levels, and by breaking them we may witness $2205.

Oil

During last week’s trading, oil prices stabilized around $77 per barrel, closing with losses of more than 3%.
It is noted that prices closed below the sub-resistance level,
which in the event of a return and the consolidation of prices above
will make it more likely to rise to visit resistance 82.50 and then the resistance area 85.73 – 86.12.

As for the sellers’ control, when prices return below the pivotal levels of 76.05 – 75.50,
it will be possible to visit the support at 71.39, reaching the main support at $68.00.

Dow Jones Index

The Dow Jones Index fell during last week’s trading by approximately 1.50% before closing
with a decline of 0.8% after mixed US unemployment data.
So that the index remains below the broken ascending channel and the support levels of 38915
so it is expected to complete its decline to levels of 38330. At the same time,
awaiting important data this week from the Consumer Price Index and the Producer Price Index.

GBPUSD

The pound consolidated its gains to rise to $1.285 and broke through resistance levels,
after a cross range between support at 1.2500 and resistance at 1.2830. In the event of consolidation above these levels,
it will stimulate its rise to the next resistance level at 1.3000, reaching 1.3143.

The sellers’ control comes when breaking the last price bottom around 1.2600
will be a negative signal and the possibility of it falling to the 1.2500 – 1.2180 levels.

EURUSD

The euro/dollar pair rose nearly 1.3% during last week’s trading before
closing with a 0.9% rise after mixed US unemployment data.
The pair is moving within an ascending price channel from the bottom of last month,
the highest support levels 1.0890-1.0900, so it is expected that after the end of the downward correction,
the pair will continue the rise to the levels 1.1015-1.1035.

USDJPY

The markets are pricing in the approaching exit of the Bank of Japan from the policy of monetary easing and negative interest rates,
and in return, they are pricing in the US Federal Reserve starting to reduce US interest rates early during the current year.

If prices continue to remain below the resistance around 148.25,
it is possible to decline and continue the decline to target 145.85 to 145.25.
Continuing the decline requires breaking the first price bottom below 145.85, at which time it is possible to decline to 143.55.

The Weekly Economic News