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

Upcoming Financial Events and Market Trends to Watch This Week

Upcoming Financial Events and Market Trends to Watch This Week: The financial markets will witness significant events and announcements
that could shape market trends and investment strategies.
From key meetings and testimonies to crucial economic indicators, traders and investors will closely monitor these developments.
Additionally, we provide a detailed analysis of recent market movements for gold,
oil, and major currency pairs, helping you stay informed and prepared for the week ahead.

 

Content

Economic Events

Gold

Oil

US Dow Jones Index

GBPUSD

EURUSD

USDJPY

 

 

 

Economic Events

Monday, July 8

EUR Eurogroup Meeting

Tuesday, July 9

USD Testimony by Federal Reserve Chair Powell

Wednesday, July 10

NZD New Zealand Central Bank Interest Rate Decision

USD US Crude Oil Inventories

Thursday, July 11

EUR German Consumer Price Index (Monthly) (June)

USD Consumer Price Index (Annual) (June)
Friday, July 12,
EUR Core Consumer Price Index (excluding food and energy) (Annual) (June)

USD Producer Price Index (Annual) (June)

 

Gold

Gold surged strongly during last week’s trading by approximately 2.95%.
This week, the markets are awaiting important data regarding US inflation from the Consumer Price Index and Producer Price Index.
Technically, the price broke through resistance levels of 2388,
with the breaking of the downward trend line targeting levels of 2433.

 

Oil

West Texas Intermediate crude oil futures prices rose above $83 per barrel.
From a technical perspective, prices managed to break through a significant resistance level of around 80.20, facing resistance at 84.40.
Here, it faces selling pressure as the oscillation index reaches the overbought area,
making it likely to retest before continuing to rise to the resistance levels of 84.40 and then 87.65.
However, if it declines and breaks the support level,
it will enhance the likelihood of it dropping to the pivotal support
level of 78.25 and then the main support level of $72.50.


US Dow Jones Index

The Dow Jones index rose by approximately 0.42% during last week’s trading.
This week, the markets are awaiting important data regarding US
inflation from the Consumer Price Index and Producer Price Index.
Technically, the price is stable above the support levels of 39090-39225,
targeting the proactive harmonic pattern at levels of 39815.

 

 

 

 

GBPUSD

The pound rose to 1.28 against the dollar after rebounding from the support level of 1.2715
and breaking through an important resistance level of 1.2766.
It is approaching a key resistance level at 1.2860, with increasing buying momentum that enhances its continued rise.
However, if it falls below the support level of 1.2615,
it will likely drop to the following support levels of 1.2505 – 1.2300.

 

EURUSD

The pair rose by approximately 0.90% during last week’s trading.
This week, the markets are awaiting important data regarding US inflation from the Consumer Price Index and Producer Price Index.
Technically, the pair broke through resistance levels of 1.0795-1.0805 above the 200-moving average, targeting the next resistance level at 1.0900.

 

USDJPY

After rebounding from the resistance level of 162, the dollar declined to below 161 against the Japanese yen.
It is facing selling pressures but finds support at 160.35.
If it breaks the resistance level, this will enhance the chances of it rising again.
However, if it breaks the support level downwards, prices will decline towards the support of 158.25 and then 154.60.

 

 

Upcoming Financial Events and Market Trends to Watch This Week