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
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