Economic Event Archives -

Market currencies and commodities movements

Movimientos del mercado, monedas y materias primas

Market currencies and commodities movements: This week, you will be awaiting many economic events
And the latest news on market movements in currencies and commodities

Topics
Economic Events

Economic Events

Tuesday, March 26

USD CB Consumer Confidence Index

Wednesday, March 27
USD Crude Oil Inventories

Thursday, March 28

GBP Gross Domestic Product (GDP)

USD Gross Domestic Product (GDP)

USD Jobless Claims 4-Week Avg.

Friday, March 29

USD PCE price index

Gold

The Gold rose strongly during last week’s trading, by about 3.3%,
before it fell and closed the week with a 0.5% increase.
Gold managed to break through its historical peak at 2194 and reached levels of 2222.
After breaking through the downward trend line, the price is currently retesting the support levels at 2147,
and it is expected to resume its ascent again to the levels of 2194 and then peak at 2222.

Oil

The prices of West Texas Intermediate crude futures stabilised above $80 per barrel,
after rebounding from the resistance level of $83.50 and at a pivotal point on the daily chart.
A continuation of the upward trend is expected if the prices hold above this level.
However, if a confirmed break below this level occurs,
it is likely that a retest of the support zone at 76.05 – 75.00 will happen,
which coincides with the upward trend line since the beginning of the year.

US Dow Jones Index

The Dow Jones Index surged strongly during last week’s trading by more than 3% before closing with a 2% gain.
This came after the Federal Reserve decided to keep interest rates steady at 5.5%
and hint at a 75 basis point cut during the current year.
The index reached levels of 39800 before dropping from the upper limit of the ascending channel,
expecting it to reach the support levels of 39225-39295 and then rise again.

GBPUSD

The pound stabilised below the 1.26 US dollar level, after breaking a support level at 1.2710
and is still in a sideways range on the daily chart that expanded during last week’s trading.

It is expected to retest the support zone of 1.2535 – 1.2500
before potentially rising back to levels of 1.2710 and then 1.2895.
However, if the support zone is broken, a further decline to 1.2340 and 1.2280 is likely.

EURUSD

The EUR/USD pair rose last week by about 0.6% but closed the week down by 0.8%
as reactions varied after the Federal Reserve kept interest rates steady at 5.5%,
hinting at a rate cut this year but without a rapid pace
so as not to raise rates again in case inflation rises.
The pair reached support levels of 1.0795-1.0805,
which is expected to rise to retest levels of 1.0880-1.0900.

USDJPY

The USD/JPY pair is trading at a strong resistance level of 151.70
after rebounding from the support zone around the 146 levels with high momentum.
If it breaks through the resistance and consolidates above it,
a continuation of the uptrend to target levels of 153.50 and then 155.00 is expected.
However, if it does not surpass the resistance level, a retest of the 149.00 level is likely,
and breaking below it could lead to a retest of the support zone again.

Market currencies and commodities movements

The most important weekly economic news

The most important weekly economic news: Many economic events and news await you in the first week of March.
This summary report presents the most important events and developments concerning market movements.

Topics

Economic Calendar

Tuesday, March 5

U.S. Services Purchasing Managers Index (PMI)
U.S. ISM Non-Manufacturing Prices

Wednesday, March 6
U.S. ADP Nonfarm Employment Change
BOC-Canada Interest Rate Decision

Thursday, March 7

European Central Bank (ECB) -Eurozone Interest Rate Decision
Unemployment complaints rates

Friday, March 8
U.S. Nonfarm Payrolls
Average American hourly wages
US unemployment rate

Gold

Inflation data, which declined to 2.8% from 2.9%, supported the continued negativity of the dollar index,
and on the other hand, we saw positive pricing for gold.
The inability of prices to stabilize above the resistance level around $2083-2088
pushes us to the possibility of a downward correction to visit the $2062 level.
If they are broken, the correction may extend to $2040.

Oil

Oil prices rose during last week’s trading, as the price of a barrel reached $80,
closing with gains of more than 4%.
It is noted that prices closed below the resistance level,
which will increase the possibility of visiting the resistance area 85.73 – 86.12 if prices hold above it.

Sellers will be in control if prices return below the pivotal level of 76.04,
and it will be possible to visit the main support of $68.00.

Dow Jones Index

The Dow Jones Index fell during last week’s trading by approximately 1.00%
before closing the week with a decline of 0.55%.
This week, the markets are awaiting US unemployment data next Friday.
The indicator is currently positioned below the resistance level of 39110.
If it breaks above, the price will head towards the 39400 level.

GBPUSD

The pound stabilized at $1.265 and at neutral levels,
in a price range between support 1.2495 and resistance 1.2830,
if the pivotal level of 1.2675 is breached and the consolidation above it
will stimulate its rise to the next resistance level of 1.2830, reaching 1.3000.

The sellers’ control comes when breaking the last price bottom around 1.2550
will be a negative signal and the possibility of a drop to the 1.2190 – 1.2040 levels.

EURUSD

The pair rose during last week’s trading by approximately 0.3% before ending the week at 0.1%.
Markets are awaiting interest rates issued by the European Central Bank next Thursday,
and US unemployment data on Friday.
The price stabilizes above the 200 moving average and the highest support levels 1.0795-1.0810,
targeting 1.0900 levels.

USDJPY

Despite the negativity of US inflation data, the Japanese yen maintained
a large portion of its loss against the dollar.
This comes in light of the continuing difference in monetary policy between the two currencies,
with prices above the support level of around 149.35.
The rise will likely continue to retarget 150.25 levels. Breaking it higher we may see 152.00

The most important weekly economic news

The most important economic events and important market news

Los acontecimientos económicos y las noticias de mercado más importantes

The most economic events and important market news: Market movements and volatility,
as well as major currency fluctuations, in addition to the most important economic events, we present to you.

Topics
Economic Event

Economic Event

Tuesday, February 20

Monetary Policy Committee Meeting -Australia

Core CPI (YoY) -Canada

CPI (MoM) (Jan)-Canada

CPI (YoY) (Jan)-Canada

Wednesday, February 21

Federal Reserve Committee Meeting-USA

Thursday, February 22

France Manufacturing Purchasing Managers Index (PMI)

France Services Purchasing Managers Index (PMI)

Germany Services Purchasing Managers Index (PMI)

Germany Manufacturing Purchasing Managers Index (PMI)

U.K. Services Purchasing Managers Index (PMI)

U.K. Manufacturing Purchasing Managers Index (PMI)

U.S. Continuing Jobless Claims

U.S. Services Purchasing Managers Index (PMI)

U.S. Manufacturing Purchasing Managers Index (PMI)

Gold

After expectations rose that the US Federal Reserve would
extend interest rates during the current year until next May,
gold moved accordingly in a downward movement.
With prices below the descending trend line and the price below the resistance level
of $2017, targeting levels of $1995 is possible, and breaking it, we may witness levels of $1973.

OIL

On the daily timeframe, prices continued to test the previous peak level and closed at $78.16 per barrel.
It’s worth noting the close above the pivot point at $76.64,
which encourages further upward movement to achieve a higher peak.
In the event of breaking through the resistance level at $80.00,
it is likely to lean towards visiting the resistance zone between $85.73 – $86.12.
However, if the price returns below the pivot level,
there is a possibility of retesting $70.65 – $71.39, followed by the primary support at $68.00 per barrel.

DOW Jones Index

The Dow Jones index closed last week’s trading with a decline of about 0.6%,
after reaching pivotal support levels and rebounding. With no pivotal data this week,
the index faces resistance levels at 39110-38915, where it is expected to retest support levels at 37800-38100,
which coincide with the lower boundary of the ascending channel, and then continue its upward trajectory.

GBPUSD

The pound against the US dollar settled at $1.262, hovering around neutral levels,
within a price range between support at $1.2610 and resistance at $1.2826.
There is a retest of the pivotal level at $1.2725 and the formation of a peak below this level,
indicating the likelihood of further decline after breaking the support at $1.2610.
As for the possibility of an uptrend, it is currently unlikely unless

the sub-resistance at $1.2770 is breached and held above.

EURUSD

The EUR/USD pair closed last week’s trading sessions with a slight divergence,
declining approximately 0.1% after falling to pivotal support levels and then rebounding.
With no pivotal data this week, the pair faces a downtrend line from the December peak.
It is expected that the price will rebound towards levels of 1.0700-1.0725.

USDJPY

The statement from the US Federal Reserve, scheduled to be released during Wednesday’s trading,
may lead to further tightening. In the event of such tightening,
we might witness additional positive pricing for the dollar index.
With prices trading above the support level of 149.35,
which coincides with the lower boundary of the ascending digital channel,

it is possible to target levels of 151.98-153.80.

The most important economic events and important market news