Key Market Events and Trends for the Week: This week has significant economic events across major economies,
including key data releases, central bank decisions, and market-moving speeches.
Traders and investors closely monitor updates from the Federal Reserve, Bank of England, and Bank of Japan,
alongside critical economic indicators such as CPI, GDP, and PMI figures.
Additionally, global developments and technical patterns significantly influence oil prices and currency pairs like USDJPY, EURUSD, and NZDUSD.

Content

Economic Events

Oil

USDJPY

EURUSD

NZDUSD

Dow Jones

Economic Events

Monday, December 16, 2024

Retail Sales (YoY) (November) -China- 05:00
Manufacturing PMI (December) -United States- 17:45

Services PMI (December) -United States- 17:45

Speech by BoC Governor Macklem -Canada- 23:45

Tuesday, December 17, 2024

Core Retail Sales (MoM) (November) -United States- 16:30

Retail Sales (MoM) (November) -United States- 16:30

Consumer Price Index (YoY) (November) -Canada- 16:30

Wednesday, December 18, 2024

Consumer Price Index (YoY) (November) -United Kingdom- 10:00

Consumer Price Index (YoY) (November) -Eurozone- 13:00

Federal Reserve Interest Rate Decision -United States- 22:00

Federal Reserve Press Conference -United States- 22:30

Thursday, December 19, 2024

Bank of Japan Interest Rate Decision -Japan- 06:00

BoE Interest Rate Decision (December) -United Kingdom- 15:00

GDP (Quarterly) (Q3) -United States- 16:30

Initial Jobless Claims -United States- 16:30

Existing Home Sales (November) -United States- 18:00

Friday, December 20, 2024

PBoC Loan Prime Rate -China 04:15

Core Personal Consumption Expenditures (PCE) Price Index (YoY) (November) -United States- 16:30

Core PCE Price Index (MoM) (November) -United States- 16:30

Government Budget Balance (YoY) (October) – Canada-19:00

Oil

The Oil continues its upward trend, trading around $71 per barrel
following reports of new sanctions by the United States on Iran.
Oil is expected to maintain its rally, targeting $72.3. If this level is breached,
it could rise to $74.17 and $76.21. However, oil may resume downward if reversal patterns appear around $72.3.

USDJPY

The USDJPY pair trades around 153.66 after breaking above 153.40 and closing higher.
The yen has weakened recently due to expectations that the Bank of Japan will keep interest rates unchanged this month,
increasing pressure on the currency.
From a technical perspective,
the pair is expected to continue its upward trend, targeting 155.90.

EURUSD

The EURUSD pair is trading around 1.0498, rebounding from support at 1.0453.
This supports the beginning of an upward corrective wave, targeting resistance at 1.0609.
Markets are awaiting the Federal Reserve’s decision this week, which is expected to result in a 25-basis-point rate cut.

NZDUSD

The NZDUSD pair is trading around 0.5760 after breaking key support at 0.5777,
reflecting continued weakness in the New Zealand dollar against a basket of currencies.
If the Federal Reserve’s decision strengthens the U.S. dollar,
this could push the pair down to target levels of 0.5660 and 0.5512.

Dow Jones

The Dow Jones experienced a downward correction recently due to profit-taking
after a recent rally and market anticipation of the Federal Reserve’s decision this week.
From a technical perspective,
the index appears to be continuing its downward movement to retest the support area around 43,310,
where it could bounce off the upward trendline and begin a new rally.

Key Market Events and Trends for the Week

Key Market Events and Trends for the Week

Related Topics