UK100 as well as UK stocks fell today rapidly following the release of GBP inflation data, as the UK inflation increases by 0.6 percent in May and 0.7 percent on the yearly basis therofor the UK100 could be set for more bearish run as price could be seen trading below the 50EMA thus a break below the L1 mark could make price rally all the way to L2.

https://www.tradingview.com/x/eMOdVKjz/ US30 made a U turn in the early hours of today following last week’s uptrend. Lots of positive economic data arose last week, and on Thursday US Q1 GDP was reassessed from 1.3% to 2%. The index is now set for what seems to be a possible retracement using the dotted lines as possible support zones.

Last week happened to be a very volatile week following the release of key economic data such as the non farm payroll, Thus the new week could be filled with market uncertainties following the impact of this data, here are key economic events to look forward to this week.


MON; GBP: Gov Bailey speaks

TUES; GBP: Claimant Count Change

WENS;NZD: Official cash rate

WENS;GBP: BOE Gov Bailey Speaks

WENS;USD: Consumer price index

WENS;CAD: BOC Monetary Policy Report/ overnight rate

WENS;CAD: BOC Press Conference

THURS;GBP: Gross domestic product

THURS;USD: PPI / Unemployment claims

FRI; USD: Prelim UoM Consumer Sentiment

https://lnkd.in/drQsUTDv

USDCAD gains some strength ahead of the CAD Consumer price index data.

The pair which has been on a progressive downtrend since hitting its March 10th high, despite falling further following the last NFP data USDCAD gained some strength in the early hours of today as investors gear up for the CPI data which has a positive forecast of 0.3% compared to 0.4% in May.

USDCAD could be set for a bullish move using the dotted lines as key resistant zones.

EURUSD been on an uptrend since hitting its june 23rd lows breaking its 1.10656 resistant zone.
Ahead of the unemployment claims data coming up later today, EURUSD could be set for more bullish move headed to retest its Aug 2022 trendline, thus a break above L1 would make price rally all thge way to L2.

https://www.tradingview.com/x/kYytQtt0/

UK stocks as well as the UK 100 has experienced impressive bullish move over the past week as UK CPI grows more than expected.

According to the inflation data earlier this week annual CPI hit 7.9% in June, a fall from 8.7% the prior month and below the expected drop to 8.1% thus resulting to a 2.6 percent gain so far on the index and set for more bullish gains using the dotted lines as key resistance zones

https://www.tradingview.com/x/lxLZBAyG/

https://www.tradingview.com/x/hhsOpr7S/ GBPUSD drops to its June 23rd low following the GBP interest rate data release today, the pair is there by set for more bearish move using the dotted lines as key support zones.

https://www.tradingview.com/x/Ga08I1xK/ AUDUSD falls to its lowest point in 10 months following the AUD unemployment data, the pair which has been on a progressive downtrend broke a major support zone as jobs data falls 3.7% in July. the pair could now be set for more bearish move following a break below its july trendline as seen on the chart.

https://www.tradingview.com/x/8fbUqnzY/ GBPUSD has been bullish this week following the positive inflation data as well as employment in the UK, however the pair startedoff bearish today following the retail sales data which fell to 1.6 percent in july leaving alot of uncertainties on the pair.


However GBPUSD has been trading on its trendline from OCT 2022 in which a resistance to it could make price rally all the way to the 1.30917 mark.

Following the AUD cash rate that remained unchanged after yesterdays announcments , AUDUSD has been experiencing some undecisiveness as price remains almost stangnant, the pair recently hit its March 7th trednline and following the GDP data released in the early hours of today, AUDUSD could be set for more bearish movement provided it breaks its major support zones as shown on the chart. https://www.tradingview.com/x/JLNGtXS4/

USDCAD set for a bullish run following the overnight rate data released earlier today. the pair has been on a progressive uptrend since hitting its July low, the pair which recently broke its major resistance at 1.36375 reaching its highest point since May, thus set for more bullish move using the dotted lines as key resistant zones. https://www.tradingview.com/x/kV1QKaLP/

AUDUSD set for a bullish move ahead of GOV Bullocks speech. The pair ended last week bearish hitting its OCt 3rd low thus forming a double bottom pattern, the bulls gained control in the early hours of monday with a 1.2 percent gain following the monetary policy minutes earlier today therefore a break about its resistance point "T1 would make price rally all the way tio T2.https://www.tradingview.com/x/dkr07p3D/

BTCUSD has been on a bullish run for a while, thus hitting its highest point since MAY 2022, the pair, the pair could be set for more bullish move to the $40,000 mark provided it breaks its resistance at $34518. https://www.tradingview.com/x/jexNuQe2/

Here are the major economic events for the week✅

MON; JPY: BOJ Gov Ueda Speaks

TUES: JPY. CASH RATE

WENS; NZD:Inflation Expectations q/q
WENS: GBP: BOE Gov Bailey Speaks

WENS: USD: Fed Chair Powell Speaks

THURS; CNY: CPI y/y

THURS; USD: Unemployment Claims

THURS: USD: Fed Chair Powell Speaks

FRI: GBP: GDP m/m

USD; FRI; Prelim UoM Consumer Sentiment

USDJPY set for a bullish move ahead of BOJ Gov Ueda speech; the pair has been on a progressive uptrend since hitting its JAN 2023 lows, breaking major resistant zones and last week hitting its highest point since Oct 2022 despite that the economy could be set for more recovery following Gov Ueda speech in the early hours of today which stated a 2 % economic growth for 2023 and a 10% growth on fixed investment which indicates more positive growth on the japanese yen. thus USDJPY could be set for more increase using the dotted lines as shown on the chart as key resistant zones ✅https://www.tradingview.com/x/ZCm9FDkI/

https://www.tradingview.com/x/fb6Kf97N/ EURUSD has been on a bearish move since hitting its July 13th high thus breaking major support zones as well as its AUG 2022 trendline. the bulls recently gained some strenght and set for more bullish move using the dotted lines as key resistance zone✅

Following the Australian CPI data in the early hours of today< CPI rose to 3.4 percent on a montly basis thus having a bullish effect on the AUDUSD pair as a break above 0.65304 would make price rally all the way to 0.65551https://www.tradingview.com/x/0n3cmyUo/

https://www.tradingview.com/x/YYyN2IWb/ Ahead of RBNZ bank rate and policy meeting scheduled for wenesday, the NZDUSD pair has experienced massive volatility starting the week bullish, the pair which is currently trading above the 50 EMA coulkd be set for more bullish movement, thus a break above the L1 mark could make price rally all the way to L2