Top Forex Brokers – Forex Weekly news and analysis For October 21, – 27, 2024
Weekly Wrap-Up
🇬🇧 UK unemployment rate fell to 4.0% in Jun-Aug 2024, down from 4.1% previously.
🇩🇪 Germany’s ZEW Economic Sentiment rose to 13.1 in Oct 2024, up from 3.6 in Sep.
🇨🇦 Canada’s annual inflation fell to 1.6% in Sep 2024, lowest since Feb 2021.
🇬🇧 UK annual inflation dropped to 1.7% in Sep 2024, lowest since Apr 2021.
🇪🇺 ECB cut key rates by 25bps in Oct 2024, third consecutive cut.
🇺🇸 US retail sales rose 0.4% MoM in Sep 2024, up from 0.1% in Aug.
🇯🇵 Japan’s annual inflation fell to 2.5% in Sep 2024, lowest since Apr.
🇬🇧 UK retail sales unexpectedly rose 0.3% MoM in Sep 2024, following 1% in Aug.
🇺🇸 US building permits fell 2.9% to 1.428M annual rate in Sep 2024.
This Week’s Highlights
This week’s key economic releases are scheduled as follows:
- BOC Overnight Rate (Wednesday)
- BOC Monetary Policy Report (Wednesday)
- BOC Rate Statement (Wednesday)
- BOC Press Conference (Wednesday)
- German Flash Manufacturing PMI (Thursday)
- German Flash Services PMI (Thursday)
- US Flash Manufacturing PMI (Thursday)
- US Flash Services PMI (Thursday)
Pair of the Week
USD/CAD
This week, expect high volatility in the USD/CAD pair due to Bank of Canada rate decision.
Resistance: 1.3886; 1.3945
Support: 1.3739; 1.3675
EUR/GBP
This week, expect high volatility in the EUR/GBP pair due to various economic data in the EU and UK.
Resistance: 0.8388; 0.8456
Support: 0.8266; 0.8203
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