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Major Economic Indicators and Market Trends: Investors are gearing up for a week with significant economic events expected
to impact global financial markets.
This week’s highlights include trade balance data, price indices, and GDP reports from major economies.
This article delves into the most anticipated data releases and analyzes key market movements,
including the U.S. dollar, oil, EUR/USD, U.S. stock indices, and NVIDIA’s stock performance.

Content
Economic Calendar

US Dollar Index

Oil
EURUSD

Nasdaq

Nvidia

Economic Calendar

Monday, January 13, 2025

Trade Balance (December) – China – 18:39

Tuesday, January 14, 2025

Producer Price Index (YoY) (December) – United States – 16:30

Producer Price Index (MoM) (December) – United States – 16:30

Wednesday, January 15, 2025

Consumer Price Index (YoY) (December) – United Kingdom – 10:00

Core Consumer Price Index (Excluding Food and Energy) (MoM) (December) – United States – 16:30

Consumer Price Index (MoM) (December) – United States – 16:30

Consumer Price Index (YoY) (December) – United States – 16:30

Thursday, January 16, 2025

GDP (MoM) (November) – United Kingdom – 10:00

German Consumer Price Index (MoM) (December)- Germany – 10:00

Core Retail Sales (MoM) (December) – United States – 16:30

Unemployment Claims – United States – 16:30

Retail Sales (MoM) (December) – United States – 16:30

Friday, January 17, 2025

GDP (YoY) (Q4) – China – 05:00

Retail Sales (YoY) (December) – China – 05:00

US Dollar Index

The US Dollar Index continues its strong rally, driven by last week’s positive US labor market data.
It showed higher-than-expected job additions and a decline in the % unemployment rate to 4.1%.
This supports the Federal Reserve in slowing the interest rate cuts this year,
pushing the Index to rise to 109.64.
Expectations suggest further increases, targeting levels of 111.

Oil

Oil prices maintain a strong upward trend,
supported by expectations of improved global economic growth this year and optimism about the Chinese economy,
which is expected to boost oil demand.
Oil is trading around 76.54, with forecasts pointing to continued gains targeting 78.2.
A corrective wave to retest 76.2 could occur before resuming the uptrend.

EURUSD

The EUR/USD pair continues its strong downward trend amid the dollar’s strength and the euro’s weakness.
The pair is trading around 1.0293, rebounding from key support at 1.0218.
This level is expected to prompt a corrective rally to 1.0331.
However, if this support is broken directly, the decline could continue, targeting 1.0150.

Nasdaq

The Nasdaq index experienced a downward trend last Friday following the release of positive US labor market data,
supporting the Federal Reserve’s decision to maintain high interest rates for longer.
This has negatively impacted US stock markets.
The Nasdaq reached 20,847 and is expected to continue declining to the next support level of 20,310.
However, if it closes above 20,909, it could initiate an upward wave toward 21,832.

Nvidia Stock

Nvidia stock trades around 135.9, reflecting the negative impact of last Friday’s US market decline.
However, investors remain optimistic about the stock in the medium term,
citing the company’s resilience and adaptability.
The stock could find support at 133.77, which may trigger a new upward wave targeting 144 and 152.
If the price breaks below 133.77, the downward trend may extend to the demand zone at 127.33.

Major Economic Indicators and Market Trends

Essential News Expected to be Traded This Week:
This upcoming week promises significant economic and financial developments.
Traders will closely watch key indicators from major economies.
It is expected to influence market movements alongside commodity prices and geopolitical tensions.
Here’s a concise overview of the anticipated major news events scheduled for the week

Content
Economic Calendar

Gold

Oil

Dow Jones Industrial Index

GBPUSD

EURUSD

USDJPY

Economic Calendar

Monday, April 1515:30 USD Core Retail Sales (Monthly) (March)

15:30 USD Retail Sales (Monthly) (March)

Tuesday, April 16

15:30 CAD Consumer Price Index (Annual) (March)

20:15 USD Speech by Federal Reserve Chair Powell

Wednesday, April 17

09:00 GBP Consumer Price Index (Annual) (March)

12:00 EUR Consumer Price Index (Annual) (March)

17:30 USD U.S. Crude Oil Inventories

Thursday, April 18

15:30 USD Unemployment Claims Rates

Gold

Gold prices rose by approximately 4.45% during last week’s trading before losing most of those gains,
dropping by 3.65% on last Friday. Due to the recent tensions between Israel and Iran,
gold prices are expected to open this week on an upward price gap.
Having reached an upward trend line from last April’s low,
gold is expected to continue rising to 2365 and then 2400.

Oil

The oil prices stabilized at $85 per barrel after breaking through key resistance levels
that became support and increased upward momentum.
Prices are stable at the pivotal level and correction point of $85.00.
If they rise above the recent peak of $87.60, an increase to $90 is expected.
However, if they break below, a retest of the $83.10 support is likely.

Dow Jones Industrial Index

The Dow Jones Index fell approximately 2.8% last week after the release of U.S. Consumer Price and Producer Price Index data,
where the positive data led to a decline.

The recent tensions between Israel and Iran suggest the index might open on a price gap.
Having reached support levels of 37765-37880, which align with a harmonic pattern, a rebound to levels 38470-38600 is expected.

GBPUSD

The pound decreased to $1.24 after breaking the support at 1.2500 and exiting the daily range.
It is expected to continue falling to 1.2374 and then 1.2187.
However, if it breaks above the broken support again, it could rise to a solid technical level at 1.2684.

EURUSD

The EURUSD pair fell in last week’s trading by about 1.80% after a strong rise in the dollar index,
supported by the Consumer Price Index.
They continued high inflation, delaying the Federal Reserve’s decisions to cut interest rates.
The pair broke through support levels at 1.0695 and 1.0655 and is expected to continue falling to 1.0590.

USDJPY

The dollar rose against the yen, breaking through significant resistance at 152 after forming and breaching an ascending triangle pattern.
We expect it to continue rising to Fibonacci extension levels around 153.50 and 155.00.
However, if it falls below 152, a retest of the 148.90 level is likely.

Essential News Expected to be Traded During this Week