Weekly Market Update: Key Economic Events & Trading Trends:
This week, global markets are set to react to key economic events, including interest rate decisions,
inflation reports, and GDP data from major economies such as the United States, Japan, the United Kingdom, and Australia.
These indicators will shape investor sentiment and drive price movements across currencies,
commodities, and stock markets.
Additionally, we analyze key currency pairs, including EURUSD, GBPUSD, and USDJPY,
along with trends in gold and oil.
Traders should remain cautious as market volatility increases with these upcoming reports.
Content
Economic Events
Economic Events
Tuesday, February 18, 2025
06:30 – Australia: Reserve Bank of Australia Interest Rate Decision (February)
16:30 – Canada: Consumer Price Index (YoY) (January)
Wednesday, February 19, 2025
04:00 – New Zealand: Reserve Bank of New Zealand Interest Rate Decision
10:00 – United Kingdom: Consumer Price Index (YoY) (January)
Thursday, February 20, 2025
16:30 – United States: Philadelphia Fed Manufacturing Index (February)
Friday, February 21, 2025
18:00 – United States: Existing Home Sales (January)
EURUSD
Following last week’s gains, the EURUSD pair is trading around 1.0487,
supported by a weaker US dollar after retail sales data showed a significant decline,
boosting market expectations for a Fed rate cut.
If the pair breaks above 1.0533, the uptrend could continue toward 1.0630.
From there, we may see a bearish correction to retest 1.0630 before determining the next move.
Gold
Gold experienced a bearish correction at the end of last week after retesting the historical peak at $2,943.
The market calmed as concerns over Trump’s ability to enforce tariffs faded.
If gold continues to decline, the next target is $2,862.
A break below $2,862 could complete a double-top pattern, pushing gold toward $2,785.
However, if a bullish reversal pattern forms around $2,862, we could see a new rally toward the historical peak.
Oil
Oil prices continue to decline, driven by hopes for a resolution
to the Russia-Ukraine crisis and an increase in US drilling activity.
These factors have put downward pressure on oil prices near $70 per barrel.
A break below $70 could extend losses toward the next major demand zone at $68.3.
GBPUSD
The GBPUSD pair is trading around 1.2585, following strong gains last week due to USD weakness.
The pair successfully broke above resistance at 1.2546 and closed above it, supporting a bullish outlook.
The next resistance target is 1.2810.
If the US dollar strengthens, a new correction may begin from this level.
USDJPY
The USDJPY pair has resumed its downtrend as the US dollar weakened,
pushing them down to 152.29.
The following support level is 149. Bank of Japan’s recent statements on a possible interest
rate hike this year has strengthened the Japanese yen, putting more pressure on the USDJPY.
Weekly Market Update: Key Economic Events & Trading Trends