Weekly Market Insights

By Samir El Khoury, ACSI, ACICMP?

During this week, the markets are eagerly anticipating several important economic indicators and events.

On Tuesday, income rates, including allowances, as well as the change in unemployment in Britain will be reported. Additionally, the Consumer Price Index in the United States of America will be released.

On Wednesday, analysts are awaiting the interest rate decision from the Federal Open Market Committee in the United States of America. Additionally, the Gross Domestic Product indices and industrial production data in Britain will be announced. The United States will also release the Producer Price Index (PPI).

On Thursday, several announcements are scheduled including the European Central Bank's interest rate decision, New Zealand's GDP, Australia's employment change rate, and China's house price indices, fixed asset investment, industrial production, retail sales, and unemployment rate. Moreover, Switzerland will release its Producer Price Index, while the United States will report unemployment claims, industrial production, the Empire State Manufacturing Index in New York, and the Philadelphia Manufacturing Index.

Lastly, on Friday, the markets will turn their attention to the Bank of Japan's interest rate decision, the Eurozone's Consumer Price Index, and the Michigan Consumer Confidence Index in the United States.

This week is packed with important data releases that are likely to have significant impacts on the financial markets.

EUR/USD?

If the pivot point 1.0734 is broken for the euro against the dollar, it may target and test the support levels of 1.0681, 1.0614, and 1.0561. But if it exceeds the pivot point, it is likely to test the resistance levels of 1.0801, 1.0854, and 1.0921.

GBP/USD ?

If the pivot point 1.2510 is broken for the pound against the dollar, there is a possibility that it may test the support levels of 1.2428, 1.2287, and 1.2428. But if it exceeds the pivot point, it may test the resistance levels of 1.2651, 1.2733, and 1.2874.?

USD/JPY ?

USD/JPY, if it falls beneath the pivot point 139.51, there is a possibility that it may test the support levels of 138.57, 137.81, and 136.87. If the pivot point is surpassed, it may test the resistance levels of 140.27, 141.21, and 141.97.?

XAU (Gold)?

For Gold, a drop below the pivot point 1973, may test the support levels of 1958, 1939 and 1924. Conversely, if it exceeds the pivot point, it may test the resistance levels of 1992, 2007, and 2026.

Brent crude oil

Should crude oil fall below the pivot point 75.70, it may test the support of 72.67, 70.55, and 67.5. But if it exceeds the pivot point, it may test the resistance levels of 77.82, 80.85, and 82.97.

US30

If the pivot point 33425 for the Dow is broken, it may test the support levels of 33045, 32327, and 31946. However, if it exceeds the pivot point, it may test the resistance levels of 34144, 34525, and 35242.

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice.?

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