Tag Archives: Economic Calendar

Important Economic News for the Upcoming Week

Important Economic News for the Upcoming Week: The upcoming week is expected to be filled with significant events  and Economic News for the financial markets,
with a series of prominent economic announcements and critical data releases anticipated.
Investors and traders prepare to analyze and react to these developments,
providing them with a better understanding of economic trends and potential market movements.
Below is a schedule of the most anticipated news and reports expected to influence market dynamics in the coming days

 

Content

Economic Calendar

Gold

Oil

Dow Jones

GBPUSD

EURUSD

USDJPY

 

 

 

Economic Calendar

Monday, July 15

19:00 USD: Federal Reserve Chair Powell’s Speech

Tuesday, July 16

15:30 CAD: Consumer Price Index (YoY) (June)

Wednesday, July 17

12:00 EUR: Consumer Price Index (YoY) (June)

Thursday, July 18

15:15 EUR: Borrowing Interest Rate (July)

15:15 EUR: ECB Interest Rate Decision (July)
Friday, July 19

15:30 CAD: Retail Sales (MoM) (May)

 

Gold

Gold rose approximately 0.75% during last week’s trading after mixed U.S. inflation data,
with the negative Consumer Price Index and positive Producer Price Index.
Markets are awaiting data on this week’s retail sales and unemployment claims.
Technically, prices remain above the support levels of 2387-2393, targeting the following resistance levels at 2433.

 

Oil

West Texas Intermediate (WTI) crude futures prices stabilized around $82.14 per barrel.
From a technical perspective, prices managed to hold above a critical support level of around $81.30,
facing resistance at $83.70, where it encounters selling pressure as the oscillation index reaches the overbought zone.
This suggests a possible retest before continuing the rise to resistance levels at $84.40 and then $87.65.
However, if prices drop and break the support level,
the likelihood of a decline to the pivotal support level at $78.25 and then the main support at $72.50 increases.

 

U.S. Dow Jones Index

The index rose strongly by approximately 1.75% during last week’s trading.
This week is relatively quiet regarding U.S. data, with markets awaiting retail sales and unemployment claims data.
Technically, the index formed a harmonic pattern; if it falls below 39815, it will decline to 39225.


GBPUSD

The pound rose strongly to near levels of 1.30 against the dollar after bouncing from the support level at 1.2715
and breaking through a significant resistance level at 1.2766, approaching a critical resistance level at 1.2860.
Increasing buying momentum supports a continued rise toward the primary resistance at 1.3140.
However, if it falls below the support level at 1.2860,
it will likely drop to the next support level at 1.2735 – 1.2615.

 

EURUSD

The pair rose strongly during last week’s trading by approximately 1.00% after mixed U.S. inflation data,
with the negative Consumer Price Index and positive Producer Price Index.
Markets await the European Central Bank’s interest rate decision and data on U.S. retail sales and unemployment claims.
Technically, the price reached resistance levels of 1.0895-1.0915, forming a harmonic pattern.
If it closes below 1.0895, it will decline to 1.0800.

 

USDJPY

The dollar dropped sharply to below 158 against the yen after bouncing from the resistance level 162.
It faced strong selling pressure supported by Japanese authorities but found support at 157.15.
If it breaks through the resistance level at 158.75, it will enhance its chances of rising again.
However, if it breaks the support level downward, it will signal a decline towards the support at 154.60 and 151.85.

 

Important Economic News for the Upcoming Week

Latest news and key economic events

Latest news and key economic events: Our Weekly Market Analysis provides information that helps make informed financial market decisions.

 

Content

Economic Calendar

Gold

Oil

Dow Jones Industrial Average

GBPUSD

EURUSD

USDJPY

 

 

Economic Calendar

Tuesday, April 30

German Gross Domestic Product (Quarterly) (Q1)-EUR
Consumer Price Index (Yearly) (April)-EUR
CB Consumer Confidence Index (April)-USD

Wednesday, May 1

Change in Non-farm Private Sector Jobs by ADP (April)-USD
Job Openings (JOLTs) (March)-USD
Federal Reserve’s Interest Rate Decision-USD

Thursday, May 2

Unemployment Claims Rates-USD

Friday, May 3

Average Hourly Earnings (Monthly) (April)-USD
Private Sector Employment Report (April)-USD
Unemployment Rate (April)-USD

 

Gold

Gold fell by more than 3.5% during this week’s trading but managed to close the week with a 2.00% drop,
following some recovery at the end of the week.

Simultaneously, this week features several key economic events, including the release of the Consumer Confidence Index,
unemployment data, the Federal Reserve meeting, and decisions on interest rates.

Furthermore, any developments in the Middle East will likely drive gold prices higher.
On the technical front, gold stabilizes above the support levels of 2300 after rising from the harmonic AB=CD pattern,
with further ascents to levels of 2365 expected.

scents to levels of 2365 expected.

 

Oil

Prices of West Texas Intermediate crude oil futures stabilized around $84 per barrel after rebounding from daily demand zones.
Subsequently, prices rose, bolstered by improved demand forecasts and ongoing supply risks related to conflicts in the Middle East.
The latest data revealed that U.S. crude inventories fell by 6.37 million barrels last week.

Consequently, prices are expected to revisit the main peak again,
as downward momentum declines and oscillators stabilize at relatively moderate levels.
However, if prices decline and there is confirmation of breaking the highlighted demand zone,
retesting the support area of $76 – $75 is likely.

 

 

 

 

Dow Jones Industrial Average:

The Dow Jones Industrial Average rose about 0.5% during last week’s trading.
This week is full of economic data including the Consumer Confidence Index, unemployment data,
the Federal Reserve meeting, and interest rate decisions.
Technically, the index has stabilized above support levels of 37765-37880,
Further ascents to levels of 38600 are expected.

 

GBPUSD

The pound stabilized around 1.24 dollars, rebounding from a support level of around 1.23,
but there was a false breakout attempt at the resistance level of 1.25.
If it breaks the resistance level of 1.2500 with signs of bullish momentum and oscillators at buying levels,
it is expected to rise to levels of 1.2800 – 1.2895.
If it does not surpass the resistance, it may retest the low around 1.2300,
and if a break below is confirmed, a further drop to 1.2185 is likely.

 

EURUSD

The EURUSD pair rose about 0.35% during last week’s trading.
This week is packed with economic data including the Consumer Confidence Index, unemployment data,
the Federal Reserve meeting, interest rate decisions, and the German Consumer Price Index.

“Technically, the price positions itself above the lower boundary of the rising price channel near the support level of 1.0700.
We expect further ascents for the pair to reach levels of 1.0760.”

 

USDJPY

The yen fell to its lowest level in 34 years as the Bank of Japan kept interest rates steady,
as widely expected, despite pressures resulting from the sharp decline in the yen’s value.
With prices stabilizing at high levels and strong bullish momentum signals supporting further ascents,
it is expected to reach 160.
However, if it breaks the level of 158 with oscillators at strong overbought levels,
retesting levels of 155 down to support around 153 is likely.

 

Latest news and key economic events

The main economic news and events for this week

The main economic news and events for this week include the rise of the euro against the US dollar,
important data starting from the European Central Bank on Thursday with interest rate decisions,
and the US Consumer Price Index and Producer Price Index on Wednesday and Thursday, respectively,
among other events and news presented in this report.

 

Content
Economic Calendar

Gold

Oil 

Dow Jones

GBPUSD

EURUSD

USDJPY

 

 

 

Economic Calendar

Wednesday, April 10

USD Core Consumer Price Index (excluding food and energy) (monthly) for March

USD Consumer Price Index

CAD Interest Rate Decision from the Bank of Canada

USD Minutes of the Federal Open Market Committee Meeting

Thursday, April 11

EUR Interest Rate Decision from the European Central Bank
 USD Producer Price Index
EUR European Central Bank Press Conference

Friday, April 12, 2024

GBP Gross Domestic Product

 

Gold

Gold prices surged by over 4.00% last week, registering new historical peaks despite positive US unemployment data.
The Gold awaits several important US data releases, including the Consumer and Producer Price Indexes.
With prices stabilizing above $2300, gold’s next target is expected to be around $2350.

 

Oil

West Texas Intermediate crude prices stabilized around $86 per barrel,
retreating after nearing $88. With prices above critical levels on the daily chart,
an upward trend is expected to continue if prices hold above these levels.
A confirmed break below could lead to a retest of the support levels between $83 and $80,
aligned with the uptrend line since the start of the year.

 

Dow Jones Industrial Average

The Dow Jones Industrial Average fell more than 3% last week before closing with a 2.50% decline.
The markets await several important US data releases this week,
including the Consumer Price Index on Wednesday and the Producer Price Index on Thursday.
With the index rising from the support level of 38600 and the presence of a harmonic pattern,
a continued rise to levels 39225-39295 is expected.

 

 

GBPUSD

The pound stabilized around 1.26 USD after forming a base near the 1.2500 support level.
On the daily chart, it remains in a sideways range,
with a potential return to an uptrend to levels 1.2710 and 1.2895 if a higher base forms.
A break below support could likely lead to a continued decline to support levels at 1.2280 and 1.2035.

 

EURUSD

The euro rose against the US dollar by about 0.5% last week.
The markets await important data starting from the European Central Bank on Thursday with interest rate decisions
and the US Consumer Price Index and Producer Price Index on Wednesday and Thursday, respectively.
With the price stabilizing above the support levels of 1.0795-1.0805, the pair is expected to continue rising to 1.0885-1.0900.

 

USDJPY

The USDJPY pair hovers around the 152 resistance level and above the 200-day moving average,
in a rectangular continuation pattern on a 4-hour timeframe.
A break above the resistance and holding above it is expected to lead to a continued rise,
targeting levels 153.50 and then 155.00. However, if it declines and breaks below the pivotal level of 148.90, a retest of level 146 is likely.

The main economic news and events for this week

The most important economic event and new market

The most important economic event and new market: in this brief,
we give details about the most important news expected to be traded during the week:

 

Topics:

Economic Calendar

Gold

Oil

Dow Jones Index

GBPUSD

EURUSD

USDJPY

 

 

Economic Calendar

Tuesday 13/2/24: U.S. Consumer Price Index (CPI) -(YoY )-(MoM) 

Wednesday 14/2/24: U.K. Consumer Price Index (CPI) YoY 

Wednesday 14/2/24: U.S. Crude Oil Inventories

Thursday 15/2/24: U.K. Gross Domestic Product (GDP) YoY (Q4)

Thursday 15/2/24: U.S. Continuing Jobless Claims

Friday 16/2/24: U.S. Core Producer Price Index (PPI) YoY

 

Gold

Annual US consumer prices, which the markets expect to decline to 2.9%,
in the event of a violation of expectations, we may witness positivity for the dollar
and possible negativity for gold, and vice versa in the event of a decline.

With prices located below the digital resistance level of $2037,
which coincides in price with the upper border of the descending digital channel,
prices may return to the decline once I see time to target the levels of $2007,
and by breaking them, the target will be to meet at $2000.

 

Oil

On the daily frame, prices achieved a new, higher low at $72, forming an upward directional movement.
A close is observed above the pivot point 76.64,
which stimulates the upward process to achieve a higher peak.
In the event of breaching the resistance level of 80.00,
the possibility of visiting the resistance area 85.73 – 86.12 will increase.

However, in the event of a return below the pivotal level,
it will be possible to retest 70.65, then the main support at $68.00.

 

Dow Jones Index

Last week, the Dow Jones Index succeeded in penetrating and holding the highest level of 38615, achieving 0.25%.
The price is located above the lower border of the ascending price channel,
targeting levels of 39110.
However, if the lower border is breached downwards,
the index will head towards levels of 36985, and the markets are awaiting CPI data on Tuesday.

 

 

GBPUSD

The pound stabilized at $1.262 and at neutral levels,
after breaking the lower border of the ascending channel.
The possibility of a rise is still excluded unless it breaches the sub-denominator of 1.2770.
However, if it declines again and settles below the support 1.2494,
it will make it more likely that it will return to the support levels 1.2188 – 1.2037.

 

EURUSD

The EUR/USD pair moved upward from the support levels of 1.0720-1.0745 last week.
With a harmonic bat pattern in place and targeting 1.0900 levels,
the markets awaiting inflation data and the consumer price index next Tuesday.

 

USDJPY

In light of US interest rates remaining high during the current year for an extended period,
the positivity is likely to continue.

With prices above the digital support level of 148.50,
and with prices also above the upper border of the ascending digital channel,
prices are likely to target the 150.25-152.00 levels, and this comes with prices maintaining trading above 149.00.

 

The most important economic event and new market

The important trading news for this week

The important trading news for this week: a new week full of economic events awaits you.
Evest, we provide you with this brief with all the economic events and market news.

 

Topics
Economic Calendar

Gold

Oil

Dow Jones

GBPUSD

EURUSD

USDJPY

 

 

 

Economic Calendar

 

Monday, February 5,

Chair Powell Speaks-USA

Services Purchasing Managers Index (PMI): USA

 

Tuesday, February 6,

Australia Interest Rate Decision. 
Reserve Bank of Australia Monetary Policy Statement 
Australia-Reserve Bank of Australia Rate Statement

U.S. Federal Open Market Committee (FOMC) Member Mester Speaks

Bank of Canada Governor Macklem speaks

Unemployment Rate: New Zealand

New Zealand Employment Change QoQ

 

Wednesday, February 7,

U.S. Crude Oil Inventories 
Adriana Kugler U.S. Federal Open Market Committee (FOMC) Member Membe Speaks 
U.S. Federal Open Market Committee (FOMC) Member Thomas Barkin Speaks

 

Thursday, February 8,

U.S. Unemployment Benefits

Reserve Bank of Australia Governor Michele Bullock speaks

 

Friday, February 09

Canada Employment Change

Unemployment Rate-Canada

 

Gold


The strength of the US labour market data indicates that the Federal Reserve will not cut interest rates next March,
and those expectations decline to approximately 15% as US unemployment stabilizes at 3.7% and hourly wage growth reaches 0.6%,
with employment in the private sector advancing to 353 thousand. Job These are solid numbers and are likely to add to inflationary pressures.

Bearish scenario:

With the rebound from the $2058 levels, which coincided with the upper border of the descending digital channel,
the decline will likely continue to visit $2011, and by breaking it,
we witness $1995. In the event of an extension, we may target $1965.

 

Oil

Oil prices declined after rebounding near the $80 resistance and breaking the pivotal level of 76.04.
It is noted that momentum increased until it touched the ascending trend line upon closing,
where it formed higher highs and lows, so it is expected to rise from the current levels or retest the support at $70, then rise again.

If the support level is broken and a full candle closes below it,
Perhaps it will indicate the continuation of the downward trend since last October.

 

Dow Jones


A strong American labour market, in addition to the positive American consumer confidence review,
which presents 79.0, contrary to expectations indicating 78.9 and higher than the reading that preceded it,
which was around 78.8, enhances the possibility that the pace of growth in the American economy
will continue amid the improvement in the labour market and American consumer confidence,
which will benefit American stocks with the possibility of continuing.

Bullish scenario:

Prices are approaching the digital resistance level of 38875 alpha,

which is close to the upper limit, with the possibility of continuing the rise.
In the event of testing the support around 38365 thousand, reaching 38075 thousand,
it is possible to rise to target 38875-39679-40500 thousand.

GBPUSD

The GBPUSD is still moving in a narrow price range between the levels of 1.2826 and
1.2610 after the upward trend since the bottom at 1.2050, and in the event of prices breaking out
and consolidating above the level of 1.2826, it will be expected to rise to the next resistance levels of 1.3000 and 1.3143.
Still, if the sub-support level of 1.2610 is broken, this will stimulate support levels visiting at 1.2494 and 1.2188.

 

EURUSD

The EURUSD has moved in a downward directional movement after bouncing from the resistance at 1.1143,
breaking the pivotal level of 1.0823 and forming a symmetrical triangle pattern inclined to the downside after forming lower peaks,
so it is expected to continue its decline and break the support at 1.0724
to reach the support area between the levels of 1.0555 and 1.0480, but if it returns to the rise,
holding above the pivotal level will likely visit 1.1143, reaching resistance at 1.2775.

 

USDJPY

With the difference in the monetary policy followed by the United States,
which is likely to keep interest rates high during an extended period of this year,
and with the accommodative policy of the Japanese yen,
whose bank did not make any promises to exit the accommodative path during its last meeting,
which puts us in the possibility of the continued weakness of the USDJPY.

Bullish scenario:

Prices are now trading below the digital resistance of 148.52 and with the possibility of testing the support of 147.48,
prices may rise again to target the 150.25 levels, and by breaking them, we may witness 152.00–153.00.
It is noteworthy that the extension of the upward movement may make us witness 158.00.

 

The important trading news for this week