The most important weekly economic news: Many economic events and news await you in the first week of March.
This summary report presents the most important events and developments concerning market movements.

Topics

Economic Calendar

Gold

Oil

Economic Calendar

Tuesday, March 5

U.S. Services Purchasing Managers Index (PMI)
U.S. ISM Non-Manufacturing Prices

Wednesday, March 6
U.S. ADP Nonfarm Employment Change
BOC-Canada Interest Rate Decision

Thursday, March 7

European Central Bank (ECB) -Eurozone Interest Rate Decision
Unemployment complaints rates

Friday, March 8
U.S. Nonfarm Payrolls
Average American hourly wages
US unemployment rate

Gold

Inflation data, which declined to 2.8% from 2.9%, supported the continued negativity of the dollar index,
and on the other hand, we saw positive pricing for gold.
The inability of prices to stabilize above the resistance level around $2083-2088
pushes us to the possibility of a downward correction to visit the $2062 level.
If they are broken, the correction may extend to $2040.

Oil

Oil prices rose during last week’s trading, as the price of a barrel reached $80,
closing with gains of more than 4%.
It is noted that prices closed below the resistance level,
which will increase the possibility of visiting the resistance area 85.73 – 86.12 if prices hold above it.

Sellers will be in control if prices return below the pivotal level of 76.04,
and it will be possible to visit the main support of $68.00.

Dow Jones Index

The Dow Jones Index fell during last week’s trading by approximately 1.00%
before closing the week with a decline of 0.55%.
This week, the markets are awaiting US unemployment data next Friday.
The indicator is currently positioned below the resistance level of 39110.
If it breaks above, the price will head towards the 39400 level.

GBPUSD

The pound stabilized at $1.265 and at neutral levels,
in a price range between support 1.2495 and resistance 1.2830,
if the pivotal level of 1.2675 is breached and the consolidation above it
will stimulate its rise to the next resistance level of 1.2830, reaching 1.3000.

The sellers’ control comes when breaking the last price bottom around 1.2550
will be a negative signal and the possibility of a drop to the 1.2190 – 1.2040 levels.

EURUSD

The pair rose during last week’s trading by approximately 0.3% before ending the week at 0.1%.
Markets are awaiting interest rates issued by the European Central Bank next Thursday,
and US unemployment data on Friday.
The price stabilizes above the 200 moving average and the highest support levels 1.0795-1.0810,
targeting 1.0900 levels.

USDJPY

Despite the negativity of US inflation data, the Japanese yen maintained
a large portion of its loss against the dollar.
This comes in light of the continuing difference in monetary policy between the two currencies,
with prices above the support level of around 149.35.
The rise will likely continue to retarget 150.25 levels. Breaking it higher we may see 152.00

The most important weekly economic news

The most important weekly economic news

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