Upcoming Economic Highlights and Market Volatility for the Week: This week brings a series of crucial economic announcements poised
to shape market movements across various asset classes. Investors will closely monitor these developments, from PMI reports to employment data.
Below, we highlight the key events to watch and briefly analyze recent trends and projections for gold, oil, the Dow Jones, and major currencies.
Topics
Economic Calendar
Monday, June 3
USD Manufacturing PMI
Tuesday, June 4
USD Job Openings (JOLTs)
Wednesday, June 5
USD ADP Nonfarm Employment Change
Thursday, June 6
EUR ECB Interest Rate Decision
Friday, June 7
USD Nonfarm Payrolls Report (May)
Gold
Gold started trading last week with an increase of about 1.15% before closing the week down 0.4%.
The markets are awaiting Friday’s Manufacturing and Services PMI data and important unemployment data this week.
Technically, gold trades at support levels of 2325-2332, with an expected rise to 2363.
Oil
Oil began trading last week with an increase of about 3.85% before closing the week down 0.95%.
The price approached the support levels of 75.70-76.35 and is in an upward trend from the January low, with an expected rise to 80.00.
Dow Jones
The Dow Jones index fell about 2.70% during last week’s trading before rising around 1.85% by the end of the week.
The markets are awaiting Friday’s Manufacturing and Services PMI data and important unemployment data this week.
Technically, the index is stable above the support levels of 38470-38600, and above the downward trend, the price is expected to rise to 39220.
GBPUSD
The pair rose about 0.15% during last week’s trading.
The markets are awaiting Friday’s Manufacturing and Services PMI data and important unemployment data this week.
Technically, the price rose from the support levels of 1.2700 and the lower boundary of the ascending channel,
with an expected rise to levels of 1.2760-1.2800.
EURUSD
The EURUSD pair fell about 0.5% during last week’s trading before recovering the entire percentage by the end of the week.
This week, the markets are awaiting the Manufacturing and Services PMI data,
important unemployment data on Friday, and the ECB interest rate announcement on Thursday.
Technically, the price reached resistance levels again at 1.0900 with the harmonic pattern, suggesting a potential drop to levels of 1.0800.
Upcoming Economic Highlights and Market Projections for the Week