Top Forex Brokers-Forex Weekly news and analysis For August 19 – 25, 2024
| The Market’s Mood |
| Weekly Wrap-Up The Reserve Bank of Australia kept its cash rate at 4.35%, citing inflation and economic uncertainty. Canada’s annual inflation rate fell to 2.5% in July 2024, the lowest since March 2021. Japan’s trade deficit widened to JPY 621.84 billion in July 2024, surpassing market expectations. The Federal Reserve held rates at 5.25%-5.50%, noting progress on inflation and considering future rate cuts. Japan’s annual inflation rate stayed at 2.8% in July 2024, its highest since February. |
| This Week’s Highlights This week’s key economic releases are scheduled as follows: US CB Consumer Confidence (Tuesday) Australia CPI (Wednesday) German Prelim CPI (Thursday) US Prelim GDP (Thursday) US Unemployment Claims (Thursday) Canada GDP (Friday) US Core PCE Price Index (Friday) |
| Top Forex Brokers Insights |
| Pair of the Week USD/CAD |
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| This week, expect high volatility in the USD/CAD pair due to economic events in Canada. Resistance: 1.3611; 1.3776 Support: 1.3366; 1.3195a |
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| EUR/USD |
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| This week, expect high volatility in the EUR/USD pair due to economic events in the Eurozone. Resistance: 1.1271; 1.1373 Support: 1.1105; 1.1008 |
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