Essential News Expected to be Traded This Week

Essential News Expected to be Traded This Week:

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