Top Forex Brokers-Forex Weekly news and analysis For August 19 – 25, 2024
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| The Market’s Mood |
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| Weekly Wrap-Up US factory gate prices increased by 0.1% month-over-month in July 2024, following a 0.2% rise in June. The annual inflation rate in the UK edged up to 2.2% in July 2024, from 2% in June. The annual inflation rate in the US slowed to 2.9% in July 2024, the lowest since March 2021, compared to 3% in June. The British economy stalled in June 2024 from May, following a 0.4% growth in the previous period. US retail sales soared by 1% month-over-month in July 2024, following a downwardly revised 0.2% drop in June and surpassing forecasts of a 0.3% gain. UK retail sales increased by 0.5% month-over-month in July 2024, recovering from a revised 0.9% drop in June. |
| This Week’s Highlights This week’s key economic releases are scheduled as follows: Canada Consumer Price Index (CPI) (Wednesday) US FOMC Meeting Minutes (Wednesday) UK, US, EU Flash Manufacturing PMI (Thursday) UK, US, EU Flash Services PMI (Thursday) US Unemployment Claims (Thursday) Canada Retail Sales (Friday) |
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| Pair of the Week EUR/USD |
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| This week, expect high volatility in the EUR/USD pair due to economic events in the Eurozone and the FOMC meeting minutes from the US. Resistance: 1.1128; 1.1225 Support: 1.0941; 1.0848 |
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| USD/CAD |
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| This week, expect high volatility in the USD/CAD pair due to economic events in Canada and the FOMC meeting minutes from the US. Resistance: 1.3785; 1.3902 Support: 1.3590; 1.3473 |
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