Market Outlook and Key Economic Indicators: This week, traders and investors closely watch several key economic indicators and central bank
decisions expected to influence the financial markets.
The main events include the Consumer Price Index (CPI) releases from both China and the United States,
the Federal Open Market Committee’s (FOMC) economic projections, and the interest rate decisions from the Federal Reserve and the Bank of Japan.

Content
Economic Calendar

Gold
Oil

Dow Jones
GBPUSD

EURUSD

USDJPY

Economic Calendar

Wednesday, June 12, 2024

Consumer Price Index (YoY) (May)-CNY

Consumer Price Index (YoY) (May)-USD

Federal Open Market Committee Economic Projections-USD

Federal Reserve Interest Rate Decision-USD

Friday, June 14, 2024

Bank of Japan Interest Rate Decision-JPY

Federal Reserve Monetary Policy Report-USD

Gold

Following positive U.S. unemployment data, gold prices dropped by approximately 1.50% during last week’s trading.
Markets are awaiting the Consumer Price Index data on Wednesday.
Technically, prices have reached the critical support levels of 2277-2287, making a rise to 2317-2330 likely.

Oil

West Texas Intermediate crude futures stabilized around $75 per barrel,
marking losses for the third consecutive week due to supply increase concerns and expectations of declining global demand.
Technically, prices rebounded from the 78% Fibonacci retracement level of the upward move since the beginning of the year,
touching a price cluster area at $76.
If prices rise above the key level of $79, it could trigger a rise to $84-$87.
However, a clear break below the recent low would indicate a continued decline to the main support of around $68.

Dow Jones Industrial Average

Following positive U.S. unemployment data, the index showed mixed movements last week,
rising by approximately 0.10%. Markets are awaiting the Consumer Price Index data on Wednesday.
Technically, the index is above the support levels of 38470-38600, making a rise to 39225 likely.

GBPUSD

The pair fell by approximately 0.15% last week following positive U.S. unemployment data and the European interest rate cuts.
Markets are awaiting the Consumer Price Index data on Wednesday.
Technically, the pair has reached support at 1.2700, with the lower boundary of the ascending price channel indicating a likely rise to 1.2750.

EURUSD

The pair fell by approximately 0.50% last week following positive U.S. unemployment data and the European interest rate cuts.
Markets are awaiting the Consumer Price Index data on Wednesday.
Technically, the price is at the support levels of 1.0795-1.0805, with a harmonic pattern suggesting a likely rise to 1.0850.

USDJPY

The dollar stabilized near the 157 yen level and remained upward,
finding support at 153.60. With prices holding above the key level of 156.27,
further upward movement is expected, facing resistance at 157.70 and 160.20.
However, a clear break below the key level could lead to a retest of the support levels at 153.60 and then the price cluster area around 151.

Market Outlook and Key Economic Indicators

Market Outlook and Key Economic Indicators

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