Tag Archives: Economic events

Key Market Events and Analysis for the Week

Key Market Events and Analysis for the Week: This week promises significant market movements and key economic events are lined up.
Highlights include the Eurozone’s CPI, the US ADP Nonfarm Employment Change, and the UK Construction PMI.
The most anticipated data, the US Nonfarm Payrolls and Unemployment Rate, will be released on Friday.
We’ll analyze how these events might impact gold, crude oil, and major currency pairs like GBPUSD, EURUSD, and USDJPY, helping traders stay informed and prepared.

 

Content

Economic events

Gold

West Texas Crude

Dow Jones

GBPUSD

EURUSD

USDJPY

 

 

 

 

Economic events

Tuesday, July 2, 2024

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

Wednesday, July 3, 2024

3:15 PM (USD): ADP Nonfarm Employment Change (June)

Thursday, July 4, 2024

11:30 AM (GBP): Construction PMI (June)

Friday, July 5, 2024

3:30 PM (USD): Nonfarm Payrolls (June)

3:30 PM (USD): Unemployment Rate (June)

 

Gold

Gold rose slightly by approximately 0.3% during last week’s trading.
The markets are awaiting this week’s trading data, including the Services and Manufacturing PMI data and crucial employment data this Friday.
Technically, the price is above the support levels of 2315, forming a Harmonic pattern, which indicates a potential price increase to the 2355 levels.

 

West Texas Crude Oil

The prices of light crude oil futures stabilized above $81 per barrel,
continuing to post gains for the third consecutive week with monthly gains exceeding 5%.
According to the technical outlook, we notice stability above the pivotal level and the liquidity concentration around 78.25.
It also broke a previous major peak, enhancing the likelihood of its continuation to the 83.00 resistance.
If it consolidates above this level, it is expected to reach its main peak at around $87.65.
However, if it declines below the pivotal level, it will likely retest the support level at $72.50.

 

Dow Jones

The Dow Jones Index moved variably near the 39000 level during last week’s trading.
The markets are awaiting the Manufacturing and Services PMI data and crucial employment data,
which will be coming up this Friday.
Technically, the index rose from the support levels of 38470-38600.
If it breaks through the 39295 levels again, it is expected to reach the 39800 levels.

 

 

 

 

GBPUSD

The pound stabilized at 1.26 against the dollar and remained downward since rebounding from the 1.2860 resistance level.
Selling pressure has decreased, as indicated by the momentum indicator,
while the oscillation indicator points to a balance between buyer and seller strength.
It is likely to continue its decline to retest the 1.2505 support, which, if broken,
would signal further decline towards the 1.2300 support.
Conversely, if it closes above the last peak around 1.2710, it will likely reoccur to the resistance.

 

EURUSD

The pair rose by approximately 0.25% during last week’s trading.
The markets are awaiting the European Consumer Confidence Index and a speech by ECB President Christine Lagarde.
On the other hand, the dollar awaits the Services and Manufacturing PMI data and crucial employment data.
Technically, the pair is above the 1.0675 support levels with a Harmonic shark pattern, suggesting a potential price increase to the 1.0800 level.

 

USDJPY

The dollar stabilized near 161, its highest level in 34 years, against the Japanese yen.
It continues to hold above the resistance level, which turned into support at 160.20.
However, purchasing power is declining according to momentum indicators,
supported by the oscillation indicator in the overbought zone.
If prices remain above the support level, the upward trend will continue.
Conversely, if the support level is broken, it would signal a retest of the subsequent support levels.

 

 

Key Market Events and Analysis for the Week

News Trading – Capitalizing on Economic Events for Profits

 News Trading—Capitalizing on Economic Events for Profits: News trading is a strategy for profiting from price fluctuations resulting from economic news and events.
In this article, we will discuss how to apply this strategy successfully.

 

Content

What is News Trading?

Tools

Tips

Conclusion

 

What is News Trading?

This trading strategy predicts market movements based on economic, political, and geopolitical events.
This type of trading requires staying informed and making quick decisions based on events’ impact on financial markets.

 

News Trading Tools

Economic Calendar: Follow the economic calendar to know the dates of important events, such as earnings announcements,
interest rate decisions, and economic reports.

Fundamental Analysis: Assess the impact of news on the economy and companies to determine potential price directions.

Technical Analysis: Use technical tools to identify entry and exit points after news releases.

 

News Trading Tips

Preparation: Prepare trading plans based on anticipated events. Determine potential entry and exit levels before news releases.

Rapid Analysis: After news releases, quickly analyze the impact and make immediate decisions.

Risk Management: Use stop-loss and take-profit orders to protect capital and minimize potential losses.

 

Conclusion

this trading strategy requires understanding how economic and political events affect financial markets.
Through rapid analysis and well-informed decisions, significant profits can be achieved.
However, to ensure continuity and success in this type of trading, it is crucial to be cautious of high volatility and to manage risks effectively.

 

News Trading – Capitalizing on Economic Events for Profits

Market Activity and Anticipated Economic Events for the Week

Market Activity and Anticipated Economic Events for the Week: As markets keenly await the release of several significant American reports and data,
notable shifts have been observed in various sectors.
This week, gold prices have risen sharply while oil prices have declined.
This article will delve into the key economic events scheduled for the week and analyze the latest market movements.

 

Content

Anticipated Economic Events

Gold Volatility

Oil News

Dow Jones Industrial Average

GBPUSD

EURUSD

USDJPY

 

 

 

 

Anticipated Economic Events

Tuesday, May 14, 2024

EUR German Consumer Price Index (Monthly) (April)

USD Producer Price Index (Monthly) (April)

Wednesday, May 15

EUR Gross Domestic Product (Annual) (Q1)

USD Consumer Price Index (Monthly) (April)

USD U.S. Crude Oil Inventory

Thursday, May 16, 2024

JPY Gross Domestic Product (Quarterly) (Q1)

USD Unemployment Claims Rate

Friday, May 17, 2024

CNY Retail Sales (Yearly) (April)

EUR Consumer Price Index (Yearly) (April)

 

Gold Volatility

Gold prices surged by approximately 2.90% during this week’s trading.
The markets await important U.S. data from the Producer and Consumer Price Index on Tuesday and Wednesday.
Any developments in the Middle East will further increase gold prices.
Technically, the price has stabilized above the support levels at 2350
and above the 200-day moving average, targeting the 2400 levels.

 

Oil News:

West Texas Intermediate crude futures prices fell to $77 per barrel,
with a downward trend forming lower peaks and troughs than before,
breaking a support level and pivotal demand area around $80.
A continued decline to retest the support area around $75 – $76 is expected
unless prices rise and stabilize above the level of $80.75,
which would enhance the likelihood of reaching the main peak of around $87.60.

 

Dow Jones Industrial Average:

The Dow Jones Industrial Average rose by about 1.95% during this week’s trading.
The markets await important U.S. data from the Producer and Consumer Price Index on Tuesday and Wednesday.
The index has stabilized above the support levels at 39225-39295 and the 200-day moving average, targeting the 39800 levels.

 

 

 

 

GBPUSD

The pound stabilized around $1.25 levels, and prices are still downward.
If the resistance level around 1.2570 is breached or fails to break higher,
a retest of the support at 1.2423 and then 1.2300 is expected.
However, if it consolidates above the resistance, it will likely rise to the next resistance level around 1.2710 – 1.2895.

 

EURUSD

The Euro rose against the U.S. dollar by about 0.10% during last week’s trading.
The markets await important U.S. data from the Producer and Consumer Price Index on the upcoming Tuesday and Wednesday.
Technically, the pair has stabilized above the 200-day moving average and the support levels at 1.0755, targeting the 1.0850 levels.

 

USDJPY

The yen stabilized around the 155 level, forming a bottom at the support level of 151.95
and approaching a resistance level of around 156.28. It is expected to rise again to the 158 – 160 levels.
However, a clear break in the support level would signal a decline in the support area around the 146 levels.

 

Market Activity and Anticipated Economic Events for the Week

The key economic events scheduled for this week

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

Gold

Oil

Dow Jones Index

GBPUSD

EURUSD

USDJPY

 

 

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   

Gold Prices Dropped Last Week

Gold Prices Dropped Last Week: Amid fluctuating forecasts regarding the future performance of gold prices,
strong U.S. economic data came in last week from the Consumer Price Index and the Producer Price Index,
leading to expectations that a Federal Reserve interest rate cut may not happen soon.

 

Content
Key Economic Events Expected This Week
Drop in Gold Prices Last Week
Significant Drop in Bitcoin Price Over the Last Two Days

 

 

 

Key Economic Events Expected This Week

This week’s most important event will be the Federal Reserve meeting,
including the Federal Open Market Committee’s economic projections on interest rates.
Also, indicators such as manufacturing and services, purchasing managers’ indexes, building permits,
and existing home sales will be of focus in the United States.

Attention will also be directed towards interest rate decisions from Japan, the United Kingdom, Australia, and Switzerland.

In addition, inflation data from Canada, the United Kingdom, and Japan will be under the spotlight.
Markets will also analyze industrial and service sector PMIs from Australia, Japan, the Eurozone, and the United Kingdom.

 

Drop in Gold Prices Last Week

Given the uncertain forecasts about the future performance of gold,
strong economic data came out last week from the U.S. Consumer Price Index and Producer Price Index,
leading to the expectation that a Federal Reserve interest rate cut may not occur soon.
This will, of course, affect gold’s performance during the upcoming trading period.
With the upcoming Federal Reserve meeting next week,
Attention is being directed towards interpreting the bank’s new forecasts and statements
made by Federal Reserve Chair Jerome Powell during the press conference.
If we can interpret them as increasing the chances of a quick interest rate cut, gold prices may reach new record highs.

 

 

 

 

Significant Drop in Bitcoin Price Over the Last Two Days

Bitcoin experienced strong selling pressure the day before, dropping by nearly 10% after reaching record levels,
reflecting growing market concerns.
Despite the recent rise in Bitcoin’s price, increased market volatility has kept short-term investors anxious,
and this concern was exacerbated by the U.S. inflation data released this week.
The rise in the inflation index, coupled with an unexpected increase in the U.S. Producer Price Index,
added to the selling pressure on Bitcoin, raising concerns about the impact of the Federal Reserve’s policy on the cryptocurrency markets.

 

 

Gold Prices Dropped Last Week

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

Gold

Oil

Dow Jones Index

GBPUSD

EURUSD

USDJPY

 

 

 

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

The most important market updates!

The most important market updates! busy week ahead, with important Economic Events that will affect the trading markets
in this report, we give you a brief of these important Economic Events

Topics

A week Ahead
Performance of the Japanese yen
Commodities performance
Stock performance
Earnings season
Economic events

A week Ahead

A busy week In the UK, with the November CPI report taking centre stage,
Core inflation is expected to slow although the CPI is seen rising 0.2% from the previous month. Retail sales, current account, the final GDP growth figures for Q3 and public sector net borrowing are also due.

 

Performance of the Japanese yen

Japan 10-Year Yield Eases Ahead of BOJ Decision

The Japanese yen steadied around 142.2 per dollar. 

Japan’s 10-year government bond yield fell below 0.70%. 

 

Commodities performance

Gold 

Gold was subdued around $2,022 an ounce looking forward to key US inflation data
due later this week that could influence the outlook for Federal Reserve monetary policy 

Brent Oil 

Brent crude futures rose above $77 per barrel, extending gains from last week as decreased exports from Russia.

 

Stock performance

Tesla Hits 8-week High 

American Express increased to a 21-week 

Ford Motor  increased to a 1 – Month High 

Amazon.com, Inc.   increased to a 6 – Month High  

 

Earnings season

19 December,  

FedEx  – 

20 December,  

BlackBerry 

21 December,

NIKE, Inc.

CarMax

 

Economic events

 December 19

BoJ Interest Rate Decision – JP 

Inflation Rate YoY – CA 

Building Permits  – USA 

December 20

CPI (YoY)  – UK 

Balance of Trade – JP 

 December 21

GDP Growth Rate QoQ Final – 

The most important market updates!