GBPUSD Archives -

Major Economic Events and Weekly Market Insights:
Financial markets await several significant economic events that could shape trading movements across various assets this week.
From inflation indicators in Europe and the U.S. to U.S. employment data,
along with trends in oil and major currencies like EURUSD and GBPUSD.
This report highlights the key events and market expectations that may present investment opportunities for traders and investors alike.

Content
Economic Reports

Oil

Economic Reports

Monday, January 6, 2025

16:00 Germany: German Consumer Price Index (MoM) (December)

17:45 United States: Services PMI (December)

Tuesday, January 7, 2025

13:00 Eurozone: Consumer Price Index (YoY) (December)

18:00 United States: ISM Non-Manufacturing PMI (December)

18:00 United States: JOLTS Job Openings (November)

Wednesday, January 8, 2025

16:15 United States: ADP Non-Farm Employment Change (December)

22:00 United States: FOMC Meeting Minutes

Thursday, January 9, 2025

16:30 United States: Initial Jobless Claims

Friday, January 13, 2025

16:30 United States:
Average Hourly Earnings (MoM) (December)

Non-Farm Payrolls (December)

Unemployment Rate (December)

Oil

Oil saw substantial gains at the end of last week’s trading, reaching $74 per barrel.
Optimism about global economic growth in 2025 has allowed oil to break out of its previous consolidation range.
This suggests continued upward momentum in the coming period, targeting $76.20 and $78.24.

EURUSD

The EURUSD pair continued its bearish trend as the euro weakened against a strong US dollar.
The pair is trading around 1.0307 after breaking the support level of 1.0330.
If it remains below this level, further declines are expected toward 1.0200 and 1.0000 in the medium term.

Dow Jones

The Dow Jones index experienced some gains during Friday’s trading,
stabilizing above the demand zone between 41,656 and 42,264, following a bearish trend at the end of the year.
The current movement indicates the start of a new upward wave,
potentially extending to 43,310 and then 44,000.
However, if the index breaks below 42,264, further declines may follow toward 41,656 and eventually 40,000.

USDJPY

The USDJPY pair is trading around 157.26 in an upward trend,
supported by the US Federal Reserve lowering expectations for rate cuts
to just two in 2025 and the Bank of Japan maintaining its interest rate policy.
This situation is expected to weaken the yen further and push the pair higher toward 158.52 and 161.94.

GBPUSD

The GBPUSD pair remains in a strong bearish trend after the Bank of England left interest rates unchanged last month.
The pair is trading around 1.2417. From a technical perspective,
support is expected to be around 1.2305, which may trigger a corrective bounce to 1.2486 before resuming its downward trend.
If the pound’s weakness persists, the pair will likely target 1.2035.

Major Economic Events and Weekly Market Insights

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

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